Angola Announces Results of 2023 Bid Round - Africa’s premier report on the oil, gas and energy landscape.

Angola Announces Results of 2023 Bid Round

By Sully Manope, in Windhoek

Angola’s National Oil, Gas and Biofuels Agency (ANPG) has released the list of winners of the 2023 bid round of onshore blocks in the Congo and Kwaza Basins.

Nine companies qualified as operators, including Etu Energias (the company formerly known as Somoil), Sonangol, Serinus Energy, Walcot Limited, Acrep S.A.,  Grupo Simples Oil, Intank Group, Transoceanic, ACE Energy .

Five companies qualified as non-operators, including, again, Sonangol, Grupo Simples Oil, Afentra, Enagol and Afrimax Energy.

In all, 10 companies did not qualify. They are: First Index Group, Soconinfa, Apex Corcel, 5C Oil & Gas, Tusker Energy, Kebo, Gespenergy, Monka Oil, Whazwimi Investments and ANM Energy.

“In the coming days, ANPG will notify the winning companies regarding the date and place to begin the negotiation process for Production Sharing Contracts, a stage that should carry out the award”, the agency says in a release announcing the bid results.

ANPG says that “i) blocks with no Operator (CON 7 and KON 7) are available for the creation of Contractor Groups, ii) blocks with unsatisfactory proposals (CON 3, KON 10 and KON 15) and iii) blocks with a lack of proposals (KON 1, KON 3 and KON 14).

“The respective selection process must comply with the terms established in paragraphs 4, 5 and 6, of Article 44 of Law no. 10/04, of 12 November (Petroleum Activities Law), in conjunction with Article 10 of the Decree Presidential no. 86/18, of April 2nd”.

ANPG also explains that “regarding the blocks without an Operator, we note that the company Enagol qualified as a Non-Operator, with a 10% participation interest in Blocks CON 7 and KON 7, with 90% participation interest in the two blocks.

“However, for Block KON 15 with unsatisfactory proposals, the company Sonangol was qualified as Operator with a participation interest of 40%, and the company Afentra as Non-Operator with 45%, being available to interested companies that have been qualified as Associates of the National Concessionaire in this competition, 15% participation interest in the block”.

The deadline to submit bids was 15th of November 2023. ANPG said it would take 45 days for it to evaluate the bids after the submission. This meant that evaluation would have concluded by the end of 2023.

The agency has effectively stuck to its deadline of announcing the awards on Monday January 22, 2024. Indeed, the results were on its website by 5am (Local time)  January 2022, 2024.

As it would take 65 days to negotiate with the winning companies and sign the licence contracts, this bid round is expected to be finalized by March 25, 2024.

The objectives of the bid round, the agency reiterates, include a wholesale reassessment of  the existing oil potential in the Lower Congo and Kwanza Onshore Basins, leveraging technological innovation and good governance practices, relaunch the exploration and production of hydrocarbons in the onshore areas of the basins and encourage the participation of small and medium-sized oil companies and promote the incorporation of qualified Angolan labour.​

In the event, the agency hopes to mitigate the decline in production by increasing exploration activities and discovering new resources.

In the coming days, ANPG will notify the winning companies regarding the date and place to begin the negotiation process for Production Sharing Contracts, a stage that should carry out the award.

 

 

 

Share Article


Sponsored

No comments yet.

Leave a comment

Comment form

All fields marked (*) are required

© 2024 Festac News Press Ltd..