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 >>

Beach Updates on Nappamerri Trough Natural Gas Program
  Australia >>  11/25/2014 - Beach Energy Ltd. provided an update on the Nappamerri Trough Natural Gas (NTNG) program in ATP 855 in Queensland and PRLs 33-49 (ex-PEL 218) in South...
Statoil Calls Time-out in Kwanza Exploration Drilling Program
  Angola >>  11/21/2014 - Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwan...

Talisman and Ecopetrol Finds Hydrocarbon Discovery in Block CPO-9
  Colombia >>  11/21/2014 - Talisman Energy Inc.affiliate Talisman (Colombia) Oil & Gas Ltd., and Ecopetrol S.A. have proven the presence of hydrocarbons in the Nueva Esperanza-1...
CGG Confirms Another Client Commitment to its StagSeis Solution
  Mexico >>  11/21/2014 - CGG announced another significant commitment from an Exploration and Production company to its StagSeisTM multi-client solution in the Gulf of Mexico,...

A Mid-sized Discovery Lufeng14-4 Made in Eastern South China Sea
  China >>  11/19/2014 - CNOOC Limited made a mid-sized new discovery Lufeng14-4 in the Eastern South China Sea. ...
Senex Energy Preparing for first Gas Sales
  Australia >>  11/18/2014 - Senex Energy has reported that the Hornet-1 gas well is in pre-commissioning ahead of first gas sales for Senex. Senex has completed a flow test of th...



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 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