Angola’s upstream hydrocarbon regulator, the National Oil, Gas and Biofuels Agency (ANPG), has signed Production Sharing Contracts (PSA) with the French major TOTALEnergies, the ENI/BP SPV Azule Energy and the Norwegian independent Equinor, for Blocks 16/21 and 31/21, located in deep and ultra-deep waters, respectively, in the Lower Congo Basin.
Block 16/21 is close to TOTAL operated Block 17 , the largest producing block in the country, while Block 31/21 has a total of 12 discoveries, “in addition to remaining exploration potential in an area with the Block’s existing infrastructure. 31 PSVM”, the ANPG says in a statement.
“The challenges related to global competition, the current volatility of the price of a barrel of oil, which is directly linked to factors that transcend us, did not prevent the conclusion of this process, demonstrating once again that the large oil companies continue to consider Angola as a preferred location and choice to make your investments”, declared Paulino Jerónimo, President of the Board of Directors of ANPGy, this is yet another achievement that demonstrates the positive results of the Strategy designed by the Angolan Executive for the oil sector.
The contracts result from the 2021 Bidding process that led to the creation of contracting groups formed by TOTALEnergies, to operate Block 16/21, with a 100 percent stake, and by Azule Energy (operator) and Equinor, both for the Block 31/21, with 50 percent participation interest, each.