Sonangol and ENI have signed a production sharing agreement for blocks 27 & 28 in the Namibe Basin.
ENI is the licensed operator for block 28 with a 60% stake, while Sonangol owns 20% and Tiptop Energy limited the remaining 20%. Angolan concessionaire Agência Nacional de Petróleo, Biocombustíveis e Gas (ANPG) expects to attract $5.5 billion in the next five years through the exploration and production of oil blocks in the Namibe basin. Sonangol Pesquisa e Produção will hold a 100% stake on Block 27.
The Angolan national oil company recently launched a regeneration program, with a specific focus on the energy industry value chain, from exploration, research, and production of crude oil to refining distribution and commercialization and promoting investment opportunities for Angola’s energy industry.
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