Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

Angola Govt Approves Bidding Round for Onshore Oil Blocks

Source: Reuters 4/3/2013, Location: Africa

Share |

Angola's government approved the guidelines of a plan to hold bidding for licences to explore for oil onshore in the Kwanza and Lower Congo basins, the cabinet office said. The government said in a statement that it has asked parliament to approve the plan. President Jose Eduardo dos Santos' ruling MPLA party has a large parliamentary majority.

Angola, which is Africa's second-largest oil producer after Nigeria, plans to ramp up crude output to 2 million barrels per day (mbpd) in 2015 from around 1.75 mbpd last year.

State oil firm Sonangol, which is the main player in the oil sector in Angola, is also in charge of awarding licences. Sonangol board member Sebastiao Martins said in February that the company was awaiting government approval for plans to seek bids for 10 onshore oil blocks in the Kwanza basin and five in the Lower Congo basin in northern Angola.

Angola's first oil discoveries were made onshore in the 1950s, but most of its crude now comes from offshore fields. Oil revenues represent over 95 percent of the country's export income and around 45 percent of gross domestic product.

Analysts and investors believe drilling thousands of metres under the Kwanza Basin seabed through blocks known as pre-salt, could match huge discoveries made off the Brazilian coast in similar rock formations in recent years. Angola in December 2011 offered offshore exploration rights in the promising pre-salt layer to seven oil majors including France's Total, Britain's BP and U.S. firm Cobalt.

For more information about related Opportunities and Key Players visit West Africa Projects

Exploration News in Angola >>

Premier Discovered Oil at the Isobel Deep Exploration Well 14/20-1
  Falkland Islands >>  5/28/2015 - Premier is pleased to announce an oil discovery at the Isobel Deep exploration well 14/20-1 in the North Falkland Basin, approximately 30km south of t...
A Mid-sized Discovery Liuhua 20-2 Made in Eastern South China Sea
  China >>  5/27/2015 - CNOOC Limited announced that the Company made a mid-sized discovery Liuhua 20-2 in the Eastern South China Sea. ...

New Well Drilling Projects in Dina 1 & Tuzi Gas Fields
  China >>  5/26/2015 - As per the 2015 resolution of the Joint Management Committee for the two upstream projects, Dina 1 Gas Field and Tuzi Luoke Gas Field, which are joint...
Interoil Granted Extension for LLA-47 Exploration Phase
  Colombia >>  5/26/2015 - The National Agency of Hydrocarbons (ANH) has granted an extension of 104 days for the exploration phase for LLA-47. Interoil has completed 350km2 of ...

Eni Discovers Gas and Condensates Offshore Libya
Libya >>  5/26/2015 - Eni has made a new discovery of gas and condensates offshore Libya, in the Bouri North exploration prospect in Area D, 140 kilometers from the coast ...
Exxon, Chevron Clear to Bid on Mexican Shallow-Water Blocks
  Mexico >>  5/26/2015 - Mexico approved 19 companies and seven groups to bid on 14 shallow-water exploration blocks as the country prepares to allow private producers to dril...



Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Angola Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

Oil & Gas Projects in Angola >>

Oil & Gas Companies in Angola >>

Related Links

Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed