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International News

Angola’s ANPG prepares auction for oil blocks in two onshore basins

03/13/2020 | 10h56

Angola’s National Oil, Natural Gas and Biofuels Agency (ANPG) is due to meet on 25 March with national oil companies to address issues related to the bidding process for oil exploration in onshore basins of the Lower Congo and Kwanza, according to official information.

 

This briefing will provide information on the legal and contractual framework, the certification of companies by the Ministry of Mining Resources and Oil, access to areas, environmental issues and the bidding process in 2020.

 

The Lower Congo Basin is located on the west coast of Africa, bordered to the north by Gabon and by the Kwanza basin to the south, and the onshore area of the Lower Congo Basin has a sedimentary area of approximately 7,000 square kilometres.

 

The activities of exploration and production of oil in the onshore area of the Lower Congo Basin began in the 1920s, although active exploration and development only took place between 1967 and 1992.

 

During this period, 13 oil and gas fields were discovered, with estimated reserves of 830 million barrels and an oil production in excess of 30,000 barrels of oil per day.

 

The Kwanza basin has a land area of 25,000 square kilometres, located around the mouth of the river Kwanza that is conducive to hydrocarbon exploration.

 

Prospecting in this region began between 1952 and 1974 and significant commercial reserves were discovered, which made the area one of the main points of oil exploration in Angola.

 

Since activities began until now 12 natural gas and oil fields have been discovered, representing total reserves of 400 million barrels, of which 82 million barrels have already been extracted.

 

Although in the past 20 years no more research has been carried out in this region, it is estimated that there are reserves that might offer results as successful as those of discoveries in deep waters.



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