Angola – 2019 Oil and Gas Bidding Round Announced

Angola’s Ministry of Petroleum, Mines and Energy, together with the Angola National Oil, Gas and Biofuels Agency, announced on June 4, 2019 in Luanda that the next oil and gas bidding round will be launched in October 2019, when the terms of reference for the concession areas (blocks) being offered will be formally disclosed. 

The timeline for this bidding round is quite ambitious, with the Angolan government aiming to (i) evaluate the proposals in November 2019, (ii) award the concession areas in December 2019, (iii) negotiate the agreements between January and March 2020 and (iv) sign the agreements no later than April 2020. 

Areas being offered include blocks in both the Namibe and Benguela basins (new frontiers): Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43 in the Namibe Basin and Block 10 in the Benguela Basin. (This list might be amended before the formal bidding round launch.)