An­gola to open bid for 10 on­shore oil blocks on May 30

Daily Trust - - 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 pre­qual­i­fy­ing stage for the new on­shore blocks. (Reporting by Shrikesh Laxmidas; Edit­ing by Ed Cro­p­ley)

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