Angola’s National Agency for Oil, Gas and Biofuels has told those interested in the ongoing 2020 licensing round for oil blocks in the onshore Kwanza and Lower Congo Basins to consult the available data packages before purchasing them.
Financial Street learnt from a statement by Africa Oil and Power Conference, “ANPG hopes this will increase transparency in the process, as intended by the governing legal framework.
The Angolan regulator stated, “It will ensure that qualified participants engage with the necessary confidence needed to start the process and secure agreements at the end of the process.”
According to the statement, this will significantly reduce the risk of companies entering the process with many uncertainties.
“Interested companies simply need to register their interest with the ANPG either via letter or email, requesting a free data consultation session. The session can either be provided virtually or in person,” it added.
ANPG has declared its intention to attract interest far beyond the traditional players in Angola’s oil and gas sector. Special attention has been given to attract mid-sized explorers to Angola’s basins that have proven prolific in recent years and provided returns for companies far beyond industry averages in other locations. Six licences onshore Kwanza Basin and three licences onshore Lower Congo Basin are currently on offer for this round.
The data available will provide a solid basis upon which models will be built to understand the oil and gas potential of the blocks on offer.