Angola’s Petroleum Agency  On Licensing Round Exploration Potential

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Angola’s Petroleum Agency  On Licensing Round Exploration Potential

Angola’s National Agency for Oil, Gas, and Biofuels has published a video based on the presentation event it hosted for upstream companies on 12 April showcasing the exploratory potential of the acreage on offer in its onshore 2020/2021 bid round.

  • Six blocks in the Kwanza Basin and three blocks in the Lower Congo Basin offer highly prospective acreage with multiple opportunities. 
  • The video will be followed by a digital event at a later date designed to address questions from interested parties.

To promote Angola’s current oil and gas licensing round that features nine highly prospective onshore blocks, the National Agency of Oil, Gas, and Biofuels (ANPG) has published a video showcasing the technical profile of the onshore blocks currently on offer to investors.

This initiative follows a technical presentations that took place in Luanda on the April 12 and will be followed by a webinar where foreign investors will be able to address the agency directly with questions and queries.(contacts are in the editorial office)

The 2020/2021 licensing round – which will be launched on April 30 and will conclude on June 9 – features six licenses in the onshore Kwanza Basin (KON 5, 6, 8, 9 17, and 20) and three licenses in the onshore Lower Congo Basin (CON 1, 5 and 6).

Interested companies are encouraged to seek one-on-one meetings with the agency to discuss their participation in further detail.

The bid round has already attracted global interest due to the significant upside potential that characterizes Angola’s onshore acreage – early exploration activities which have yielded approximately 13 commercial-sized oil discoveries. Onshore plays represent a geological extension of more established, offshore petroleum systems that have accorded Angola the fourth-largest proven oil reserves on the continent.

Deep- and ultra-deepwater offshore exploration has garnered significant attention from oil majors in recent years. Angola’s Kwanza Shelf is gaining traction on the back of new broadband 3D seismic data and a track record of multiple exploration wells, of which a majority spudded oil. Moreover, the shallow-water shelf serves as a geological mirror to Brazil’s prolific Santos and Campos Basins and is home to several early discoveries in Blocks 20, 21, and 23 – including the Orca field, which is estimated to be the largest pre-salt discovery in the Kwanza Basin to date.