Africa-Press – Namibia. STATE-OWNED National Petroleum Corporation of Namibia (Namcor) has been awarded an oil exploration and producing licence in Angola.
This was confirmed by the company’s spokesperson Paulo Coelho, yesterday.
“We were successfully awarded a production asset and exploration block,” he said.
Coelho said blocks 23 and 27 were on offer by the Angolan state oil company, Sonangol, and comes at a time when the country is privatising most of its core industries to root out identified kleptocracy.
Sonangol announced last weekend that it had conducted a partial alienation of participations in eight oil concessions in the country, in a limited public tender, without mentioning the value of the deal.
According to a report by media agency Agência Lusa Sonangol, blocks 3/05, 4/05, 5/06, 15/06, 18, 23, 27 and 31 were open to public tender for the partial sale of its participating interests.
According to Sonangol, Afentra (20%) was selected for block 3/05, Namcor, Sequa and Petrolog (10%) for block 15/06, Somoil and Sirius (8.5%) for block 18, and Somoil and Sirius (10%) for block 31.
For the blocks in exploration, the Angolan state oil company selected for block 23 Namcor, Sequa and Petrolog (40% Operator) and Afentra (40%) and for bock 27 Namcor, Sequa and Petrolog (35%) and Somoil and Sirius (25%).
After evaluating the proposals received, the companies that presented values that were closest to those established in the conditions of sale defined by Sonangol were selected.
“The partial alienation of participating interests in the oil concessions is part of Sonangol’s strategy for the repositioning and sustainability of its investment portfolio,” said Sonangol officials.
Sonangol has reportedly privatised 13 assets in 2021 that earned US$37 million, and the company appears to continue to prepare, without haste, the stock market dispersal of up to 30% of its capital.
For More News And Analysis About Namibia Follow Africa-Press
