Angola To Launch Tender For 10 New Onshore Oil Blocks On May 30


LUANDA, April 14 (Reuters) - Angola will start the tender process for onshore oil exploration at 10 new blocks in the Congo Basin and Kwanza Basin on May 30, state oil firm Sonangol said on Monday.

Companies that want to take part in the tender must submit documentation on their business structures, activities and finances by April 30 to enter the pre-qualifying stage, Sonangol said in a statement.

Angola, Africa's biggest oil producer after Nigeria, extracts nearly all its crude from offshore fields, but is seeking to develop its onshore potential.

Sonangol said in February that the 10 blocks may hold, on average, reserves of 700,000 barrels of oil each. The government puts Angola's total reserves at just under 13 billion barrels.

Seven of the new blocks are in the Kwanza basin and three in the Congo Basin.

Angola produced 1.73 million barrels of oil per day on average last year, with major international firms such as France's Total, Britain's BP and Chevron of the United States among the leading operators.

Sonangol said on Monday that firms already operating in Angola would not be exempt from submitting documents for the pre-qualifying stage for the new onshore blocks.

(Reporting by Shrikesh Laxmidas; Editing by Ed Cropley)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
US Alvarado, Texas: Senior Order Correspondent
Expertise: Logistics Management|Materials Management |Supply Chain Management
Location: Alvarado, TX
Contract Administrator
Expertise: Contracts Administration
Location: Houston, TX
Fabrication Project Superintendent
Expertise: Fabrication|Project Management
Location: Houma, LA
search for more jobs

Brent Crude Oil : $52.72/BBL 3.31%
Light Crude Oil : $48.51/BBL 3.01%
Natural Gas : $2.89/MMBtu 1.36%
Updated in last 24 hours