Sonangol Opens Tenders for Offshore Blocks
Sonangol, the national oil company of Angola, conducted a public opening of sealed tenders from international and domestic oil companies seeking to participate in the exploration and potential exploitation of five offshore blocks - 1, 5, 6, 26 and the relinquished portion of block 15. Each block attracted proposals. The opening of the tenders occurred in Luanda on April 3 as published in earlier communications and in presentations during November 2005 in Houston and London. It was the first public opening ceremony of tenders in the oil sector in Angola since its independence in 1975.
A total of 20 companies submitted proposals for participation in the blocks. There was a spirited competition for one of the blocks in particular, with all blocks drawing higher signature bonus figures than seen elsewhere in recent years.
"This is truly a great day for Angola and the future of its oil and gas industry," said Dr. Carlos Saturnino, Sonangol's Director of Negotiations and President of the Proposals Evaluation Jury. "The interest by the companies in the blocks offered validates Angola as a major hydrocarbon province. We look forward to working together with the successful tenderers in the development of the blocks on offer."
The evaluation of tenders commenced immediately after the April 3 opening and will conclude 30 days thereafter with an announcement of the successful tenderers. A further 15 days is available for any unsuccessful tenderers to appeal results of the evaluation.
An additional public opening of tenders for Blocks 17 and 18 will be held in Luanda May 9, 2006. For additional information about Sonangol or this licensing round, please consult the Sonangol Web page at www.sonangol.co.ao
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