Angola Requests Bids for 10 Onshore Oil Blocks


LUANDA, July 20 (Reuters) - Angola's state oil firm Sonangol on Monday requested prequalified bidders to submit bids for ten onshore oil blocks as Africa's second largest crude exporter aims to open up new exploration opportunities.

U.S. oil major Chevron, Italy's ENI, commodities trader Glencore and Portugal's GALP were among the prequalified companies who could operate the blocks, Sonangol said in a press release.

Bid proposals must be submitted by September 18.

Sonangol said last year 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.

Operators will need to work with Angolan companies as the government seeks to increase local ownership of its resources.

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

Angola currently produces around 1.7 million barrels per day of crude oil from large offshore fields developed by oil majors, including Chevron, Total, Exxon and BP.

(Writing by Joe Brock; Editing by James Macharia)

Copyright 2016 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
 Company: BP plcmore info

 - BP Says Will Break Even With Oil At $55/Barrel In 2017 (Oct 18)
 - BP Boss Dudley Sees Oil Prices At $55-$70 For Rest Of The Decade (Oct 11)
 - BP Scraps Plan To Drill Off Australia's South Coast (Oct 11)
 Company: Exxon Mobil Corporationmore info

 - Exxon CEO Doesn't See Supply Shortage Pushing Up Oil Prices (Oct 19)
 - ExxonMobil To Start Drilling First Liberia Well In November (Oct 19)
 - Norway Gas Plant Workers Agree Wage Deal, Avoid Strike (Oct 7)
 Company: Total S.A.more info
 - Total Says Brazil Libra NW Prospect Holds 3-4 bln Barrels of Oil (Sep 29)
 - Oil Industry Welcomes Indonesia's Tax Reform, But Says It's Not Enough (Sep 23)
 - Oil Firms Seen Spending More Next Year For First Time Since 2014 (Sep 23)
 Company: Chevron Corporationmore info
 - Chevron Confirms Is In Discussions For Potential Bangladesh Sale (Oct 13)
 - Kidnapped Romanian Oil Engineer in Niger Delta Released (Oct 13)
 - Jefferies: OPEC Output Cut Unlikely (Oct 11)
 Company: ENImore info

 - ENI: FPSO Soon Ready to Start Work at East Hub Development Project (Oct 14)
 - Mozambique Minister's Sacking Will Not Affect Gas Project Decision (Sep 30)
 - Eni: Laarich East-1 Well Onshore Tunisia Has 2,000 Bpd Capacity (Sep 19)
 Company: Sonangolmore info
 - Cobalt International Says Angola Oil Block Stake Sale Terminated (Aug 23)
 - Twin Crises Expose Angola's Failure To Kick Its Oil Habit (Jul 5)
 - Angola State Oil Firm Finds Gas In Kwanza Basin (Jun 22)
 Company: Glencore Exploration Ltd.more info
 - Victoria Oil & Gas to Acquire 75% Stake in Cameroon's Matanda PSC (Feb 18)
 - Angola Requests Bids for 10 Onshore Oil Blocks (Jul 20)
 - Atwood Aurora Lands Gig in Cameroon (Jul 9)
 Company: Galp Energiamore info
 - OPEC Output Cut Unlikely Says Jefferies (Oct 11)
 - Galp Reaches Agreement to Sell 22.5% Stake in GGND (Jul 29)
 - Portugal's Galp Quarterly Net Profit Up 9% (Feb 8)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours