Paulino Jerónimo, President of the Angolan Agency for Oil, Gas and Biofuels (ANPG) highlighted recent developments in Angola’s petroleum sector as well as set out a timeline for the signing of new E&P contracts, expected to take place in the second half of 2021.

Release-ANPG

Paulino Jerónimo, President of the Angolan Agency for Oil, Gas and Biofuels, was a guest at a CERAWeek session entirely dedicated to Angola. This event, which annually brings together in Houston the world leaders in the energy sector, was canceled this year due to the Covid-19 pandemic, but its promoters sought to keep the network active among the various world players through online sessions broadcasted through their platforms.

Luanda, 16th November 2020 – In this session, entitled “Angola’s New Upstream: Increasing Competitiveness, Repositioning for the Future”, Paulino Jerónimo recalled the changes introduced in the national oil sector over the past two years, under the guidance of the President of the Republic, anticipating the second half of 2021 as a probable date for the signing of new oil concession contracts. He also assured that, together with the operators and service providers, Angola, with the active intervention of ANPG, has been taking concrete steps towards the sustainability of oil exploration and production.

“We closely monitor investors with operations in Angola, both operators and service providers. In 2019 and 2020 we signed agreements with contracting groups for blocks 14, 15, 17 and 18. In block 14 we evaluated three development areas and, as a result, we will drill six new wells. In block 17 we signed an agreement for the extension of the concession license in two distinct stages: the first until 2035 and the second until 2045. With this extension it is expected that in 2024 this block will be producing at least 400,000 barrels a day.

Click on the link below for full report

Source: PetroleumAfrica