Angola’s National Oil, Gas, and Biofuels Agency (ANPG) expressed pleasure with the onshore bid round’s final results despite the current problems brought on by the global pandemic. At the recently concluded AOG 2021, ANPG boldly claimed that Angola is the best market in the world for energy investment.
The concessionaire expects to award the oil concession to the winning bidders on September 23 while also accepting investment proposals for a new round of eight oil blocks, three of which are in the Kwanza Maritime Basin (blocks 721, 821, and 921) and five in the lower Congo Maritime Basin (blocks 1621, 3121, 3221, 3321, and 3431), as part of the agency’s efforts to boost oil production.
An Executive Administrator at ANPG, Natacha Massano, said: “This is a capital-intensive industry, and we want to ensure we create investment opportunities for the development of onshore exploration activities. These results further cement the concessionaire’s intent to develop strong local oil and gas capabilities that will significantly contribute to Angola’s energy independence goal.”
According to ANPG, once oil concessions are issued, the country’s oil and gas operations will expand, resulting in new prospects for continuing investment, skill development, and socioeconomic improvement. With the primary goal of establishing a healthy oil and gas business that is competitive throughout the area, the concessionaire is changing its focus from high-operation-intensive fields in Angola’s offshore seas to onshore investigations.