Africa-Press – Angola. National Agency of Petroleum, Gas and Biofuels (ANPG ), Somoil and its partners in Block 2/05 signed, this Friday, in Luanda, an addendum to the production sharing contract to “maintain fiscal economic balance”.
The agreement will also define and regulate the rights and obligations of the parties in relation to the petroleum operations to be carried out and allow for the extension of the concession’s production period.
The Block 2/05 contractor group includes Somoil (operator), with a 30% stake, Falcon Oil (20%), Kotoli (12.50%), Poliedro (12.50%), Prodoil ( 12.50%) and Acrep (12.50%).
According to the ANPG, the contractor group must also perform various obligations during the extension period, namely drilling an exploration well, increasing production, ‘worker’ campaign, recovering the production units of the Lombo Este platform and carrying out extension activities of the lifting gas network.
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