Africa-Press – Angola. The reforms in the regulatory framework, the strategy of exploration and prospecting, are mechanisms to stop the decline in oil production that Angola has faced in recent years, said Monday, the minister responsible for it, Diamantino Azevedo.
According to the Minister of Mineral Resources, Oil and Gas, if the President of the Republic, João Lourenço, did not take urgent measures, from 2017, probably Angola, by this time, oil production would be less than a million barrels per day.
“Interventions in the business environment in this sector, the bidding of blocks and the strategy of exploring and prospecting for more oil on offer aim to mitigate the decline and maintain stable production levels for the coming years”, he considered.
In this regard, the ministry has recently carried out a comparative study with other countries that are also engaged in oil activity, to adapt the reform process, as well as an assessment of the strategies for exploration, bidding, the petrochemical strategy, refining, as well as the increase in fuel storage capacity.
On the other hand, it is necessary to take into account that the paradigm of the oil industry has changed with the moment of energy transition and, particularly, the situation of several points of tension in the world.
The minister, speaking on the sidelines of the presentation of the bids for the 2023 oil concessions, said that financing for mining and oil activities is linked to the measures that countries define in terms of tax benefits and better environmental legislation.
There are also aspects of money laundering, transparency and the fight against corruption, among others.
On the occasion, regarding the bidding process for oil concessions, launched, the director for negotiations at the National Petroleum, Gas and Biofuels Agency (ANPG), Alcides Andrade, said that this act is part of the national strategy for assigning blocks , which plans to tender 50 blocks by 2025.
This is the third tender, after 2020, 2021 and 2022, with the aim of mitigating the decline in hydrocarbon production in the country.
For this year, says the official, 12 blocks will be put up for auction in the Congo basins (with four blocks) and Kwanza, with eight exploration blocks, which will result in new reserves, new resources and “on shore” production (on land). ), to ensure that there is sustainability in oil activity in the country.
According to the director, the official tender will be launched on September 30th of the current year, for 40 days, and the results will be announced in November and the contracts with the winners, in March 2024.
The specialist said that these fields are in the Congo-kwanza basin, with great potential for exploration, where 27 wells have already been drilled in the kwanza basin and two in the Congo basin.
Investors who take advantage of these opportunities will be able to develop production, with a guaranteed return on investment.
ANPG has ongoing actions to promote various investors around the world, from small and medium-sized companies.
Tender 2023
The National Oil, Gas and Biofuels Agency (ANPG), as the national concessionaire, holds mining rights for prospecting, research, evaluation, development and production of liquid and gaseous hydrocarbons throughout Angola.
On September 30, 2023, the agency will launch the tender for the award of oil concessions in the 2023 tender for oil exploration in the Onshore Basins of the Lower Congo and Kwanza, open to national or foreign entities.
For More News And Analysis About Angola Follow Africa-Press
