Angola licensing round to be showcased at Africa Oil & Power 2019

On 3 September, the country will launch the first leg of an international roadshow to promote this year’s oil and gas licensing round. Officials from the Ministry of Mineral Resources and Petroleum, national oil company Sonangol and the National Oil, Gas and Biofuels Agency are set to be in Cape Town during AOP to present the ongoing bidding round, which includes 10 onshore blocks in the Namibe and Benguela basin. The country has also passed new legislation for the development of marginal oilfields, to monetise natural gas and improvements to public tender processes that make them more transparent.

“Thanks to the size of the market, the immense prospects and the reforms made by President João Lourenço and his administration, Angola is not only Africa’s but arguably one of the world’s most exciting oil and gas market right now,” said Sergio Pugliese, President of the African Energy Chamber in Angola. “We have witnessed a positive seismic shift in the way business is being conducted in Angola’s oil sector. Minister Diamantino Azevedo’s open door and results-oriented approach, together with the new sector regulators has triggered not only more drilling and activity than in previous years, but also optimism that the industry is slowly but surely on its way back to pre-2014 activity levels. Angolan companies are in larger numbers seeking partnerships and deals with other African and international services and technology companies, to serve and support the resurgence of activity. AOP provides a perfect platform to seal those deals.”

Read the article online at: https://www.oilfieldtechnology.com/exploration/09092019/angola-licensing-round-to-be-showcased-at-africa-oil-power-2019/