Africa-Press – Angola. Angola’s National Oil, Gas and Biofuels Agency (ANPG) signed on Wednesday a concession agreement with five oil companies for the exploration of the Block 17 and increase oil production in the country.
Signed with the oil company state oil Sonangol, Total Energies, Equinor, ExxonMobil, and Azule Energy. It includes improving the facilities of the Block 17 platform (Dalia field), with an expected investment of 6 billion US dollars over the next five years, extending the operation until 2045.
Janio Correia Victor, Secretary of State for Mineral Resources, said the memorandum represents growth in production capacity, increased employment, technology transfer, training of national staff, and economic development.
He added that the move poses an important and decisive step toward ensuring that existing resources continue to produce and play a key role in boosting the national economy.
Venancio recalled that the oil and gas sector faces significant challenges due to the maturity of the fields and growing global competitiveness, despite Angola’s resilience and remarkable ability to adapt based on policies of openness and consultation with investors.
He reaffirmed that the Angolan government remains committed to ensuring that the country’s natural resources are exploited responsibly, with strategic vision, comfort, and well-being for communities, as well as strengthening local content.
The ANPG CEO, Paulino Jeronimo, on his turn, said the Dalia field is one of the largest areas discovered in the 1990s in Angola, which is now in a mature phase of production, with a favorable share, 90% for the state and 10% for the investor.
According to Jeronimo, under normal conditions, the platform would produce roughly 120 million barrels by the end of its useful life, with the state receiving 90% of this amount, but with these incentives, production could reach up to 500 million barrels.
This percentage, he explained, “does not motivate new investments,” a fact that requires implementing the principle of incremental production to give incentives to all buyers to produce above the expected average.
“We have a production profile that has generally been negotiated over the years with operators, and those who produce above average have an incentive,” he clarified.
In turn, the CEO of Total Energies, Martin Deffontaines, highlighted the importance of the agreement in stimulating growth in the oil and gas sector, ensuring a dynamic and innovative spirit.
“We have opened a new chapter in the Dalia journey, which is a 20-year-old Block 17 platform that still produces 140,000 barrels per day,” he said.
He stressed that the contract allows for the start of the Dalia and Dalia Lifex life extension project, resolving issues of platform and subsea facility integrity and replacing obsolete equipment.
According to Martin Deffontaines, the Dália Lifex project will allow for the drilling of five new wells that will contribute to the country’s economic growth.
Block 17 is located between 150 and 200 kilometers off the Angolan coast and is operated by Total (40% of the shares), together with subsidiaries of Equinor (23.33%), ExxonMobil (20%), and BP (16.67%).
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