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 >>

Kuwait Energy Finds Discovery at East Ras Qattara
Egypt >>  12/17/2014 - Kuwait Energy an independent oil and gas company with assets across the MENA region, and their main partner, the Egyptian General Petroleum Corporatio...
Lekoil Provides Otakikpo Marginal Field Project Update
  Nigeria >>  12/16/2014 - Lekoil provides an update on its progress on the Otakikpo Marginal Field in oil mining lease (OML) 11, offshore Nigeria, adjacent to shoreline in the ...

Roxi Petroleum Provides an Operational Update
  Kazakhstan >>  12/15/2014 - The BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau Oblast, covering an area of ...
Extension Request for Exploration Licence Blocks 3105/3106/3107
  Madagascar >>  12/15/2014 - Madagascar Oil announces that, following discussions held at the Executive Committee meeting regarding Blocks 3105, 3106 and 3107 on 9 December 2014, ...

Aksay Oil and Gas Field Put on Stream
  Iran >>  12/12/2014 - KazMunaiGas Exploration Production JSC (“KMG EP” or “Company”) announces that JV Kazgermunai’s Aksay oil and gas field located in Kyzylorda region has...
Tower Provides Update on Badada-1 Well Site Preparation
  Kenya >>  12/12/2014 - Tower Resources plc (Tower), the AIM-listed Africa-focussed oil and gas exploration company, notes the announcement dated 11 December 2014 from the Op...



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