Angola’s new exploration contracts can be signed in H2 2021- ANPG

  • Post Author:
  • Post Category:Trending
  • Post Comments:0 Comments

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.

“In block 18, the development of Campo Platina was approved, and the extraction of the first oil is expected at the end of next year. We also signed an agreement with the new gas consortium to develop the non-associated gas fields in blocks 1, 2 and 3 and to get it to Angola LNG. During this same period, we were able to bring three new platforms to Angola, and discussions have been taking for the installation of some more, so that we can execute the plan initially approved and manage to mitigate the decline in production”, emphasized the President of ANPG.

The same official referred to the creation, about two weeks ago, of two working groups that aim to increase the sector’s competitiveness in Angola. One aims to establish the rules for sharing of logistics among operators, in order to create synergies and optimize operating and production costs. The other aims to create a fiscal and contractual benchmark to understand the sector’s level of competitiveness in Angola when compared to the African continent and the rest of the world markets.

“Both themes are important, but the second is particularly relevant because it will allow us to assess the level of fiscal and contractual competitiveness that we have at present and, consequently, introduce the improvements that are necessary”, reaffirmed Paulino Jerónimo.

Questioned about the outcome of the tenders held in 2019, the President of the National Agency for Oil, Gas and Biofuels, highlighted a breakthrough in two different fields. “Today we know that Angola has to advertise its bidding processes more and better, namely with more time in advance so that potential investors have the necessary time to evaluate the available data. We also know that we have to make the share of profit oil more attractive for those who invest. These are two aspects that will certainly improve the tenders that we will launch later this year and that will take place in the first half of 2021”.

On the future of the industry, specifically on the reduction of CO2 emissions, Paulino Jerónimo said that Angola is aligned with the demands that the environment preservation places on the industry. “This issue is of paramount importance to all the major operators, who intend to continue to operate profitably but respecting the environmental laws in force. Angola is in perfect harmony with the implementation and compliance of all the environmental laws. We will do everything to ensure that CO2 emissions in our country are in accordance with international laws, because we want investors to continue to trust us and see Angola as a partner that complies, commits and works together, solely to achieve a win-win end result for both parties. Respecting, obviously, the environment and communities”.

Recall that this panel was also attended by the Chairman of the Board of Directors of Sonangol, Sebastião Martins, who reported on the contribution of the Angolan operator to the good functioning of the sector, as well as the challenges the company is facing so that the results will be positive in the near future.

 

Source: Petroleum Africa

 

The post Angola’s new exploration contracts can be signed in H2 2021- ANPG appeared first on Energy News | Oil and Gas News.

Spread the love

Leave a Reply