Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services Ľ
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

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 >>

Baron Oil Provides Update on Peru Exploration
  Peru >>  10/23/2014 - Baron Oil plc, the independent oil and gas exploration and production company focused on Latin America, is pleased to make the following announcements...
Amerisur Applies for New Exploration Licence in Colombia
  Colombia >>  10/22/2014 - Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to announce that it has presented to the Agencia Na...

Shell Finds Gabon Deep-water Gas Discovery
  Gabon >>  10/22/2014 - Shell announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 ...
Thailand Plans Feb Auction of 29 Petroleum Concessions
  Thailand >>  10/22/2014 - Thailand plans to kick off a new auction round next February for petroleum concessions on 29 onshore and offshore blocks in its effort to secure energ...

New Oil Resources Proved in the Grane Area
  Norway >>  10/21/2014 - Operator Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea. ...
Bid Deadline for New Oil Blocks Extended
  Oman >>  10/20/2014 - Omanís Ministry of Oil and Gas has announced a monthís extension in the deadline for the submission of bids for five new oil and gas blocks that were ...



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 |

More News

Oil & Gas Projects in Angola >>

Oil & Gas Companies in Angola >>

Related Links

Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us