Angola’s National Oil, Gas and Biofuels Agency (ANPG) has signed three Addenda to Risk Service Contracts, with the Consortium of Blocks 30, 44 and 45, made up of ExxonMobil(60%) and Sonangol (40%).
The Addenda are based on the Contracts signed in 2020, given the need to increase the volume of research activities in this maritime area (offshore), with more than 17,800 square kilometres, located in deep waters in the Namibe Basin.
“The signed documents result from the conclusion of a long negotiation process, whose main objective is the revitalization of petroleum activities, changes to current fiscal and contractual terms, deepening geological knowledge, exploring the existing hydrocarbon potential, as well as improving the attractiveness for new investments in exploration and drilling, in the concession areas of Blocks 30, 44 and 45”, the ANPG says in a statement.
“The addenda made now materialize recommendations from the Competitiveness Study carried out by ANPG between 2022-2023, with a view to finding solutions and defining strategies to make the Angolan oil sector more competitive and attractive, in line with encouraging investment in oil operations and investing in discovery and profitability of Angola’s oil resources”.
