Natacha Massano, Executive Administrator of Angola's National Oil, Gas and Biofuel's Agency (ANPG) announced the concessionaire´s satisfaction with the bid round results at AOG 2021 that took place in Luanda on September 9-10; ANPG will award the concessions on September 23, 2021, to bid round winners; The news was made at AOG 2021, an event organised by Energy Capital & Power that brought together Angola's oil and gas officials with international investors for discussions intended at increasing investment in the country's energy sector following the COVID-19 epidemic.
Angola's National Oil, Gas and Biofuel's Agency (ANPG) announced its satisfaction with the final results of the 2020 onshore bid round. The results exceeded the concessionaire's expectations despite the current associated challenges brought on by the global pandemic. ANPG confidently announced that Angola is the best market globally for investment in the energy sector at AOG 2021.
According to ANPG, once oil concessions are issued, the country's oil and gas operations will expand, resulting in new prospects for continuing investment, skill development, and socioeconomic improvement. With the primary goal of establishing a healthy oil and gas business that is competitive throughout the area, the concessionaire is changing its focus from high-operation-intensive fields in Angola's offshore seas to onshore investigations.
“This is a capital-intensive industry, and we want to ensure we create investment opportunities for the development of onshore exploration activities. These results further cement the concessionaire's intent to develop strong local oil and gas capabilities that will significantly contribute to Angola's energy independence goal,” said Natacha Massano, Executive Administrator at ANPG.
The concessionaire is expecting to award the oil concession to the bid winners on September 23, and is simultaneously accepting investment proposals for the new bid round for eight oil blocks of which three are in the Kwanza Maritime Basin (blocks 7\21 8\21 and 9\21) and five in the lower Congo Maritime Basin (blocks16\21, 31\21 32\21 33\21 and 34\31) as part of the agency´s efforts to boost oil and gas exploration and production in Angola.
At AOG2021, ANPG's Senior Executives strongly marketed Angola as the greatest market to invest in the energy business in the post-Covid 19 era, announcing the new bid round. Concessionaire officials were active participants in a number of high-level panel discussions, stressing the Agency's role as a key partner in developing high-value investment prospects in Angola's energy sector.