Angola's National Oil, Gas and Biofuel's Agency (ANPG) Highly Satisfied with Final Results from 2020 Bid Round

  
Energy Capital & Power

Energy Capital & Power


Natacha Massano, Executive Administrator of Angola's National Oil, Gas and Biofuel's Agency (ANPG) announced the concessionaire´s satisfaction with the bid round results at AOG 2021 that took place in Luanda on September 9-10; ANPG will award the concessions on September 23, 2021, to bid round winners; The announcement was made at AOG 2021, organized by Energy Capital&Power (www.EnergyCapitalPower.com), an event that brought together Angola's oil and gas leaders face to face with international investors for discussions aimed at accelerating investment in Angola's energy industry in the wake of the COVID-19 pandemic.

Angola's National Oil, Gas and Biofuel's Agency (ANPG) announced its satisfaction with the final results of the 2020 onshore bid round. The results exceeded the concessionaire's expectations despite the current associated challenges brought on by the global pandemic. ANPG confidently announced that Angola is the best market globally for investment in the energy sector at AOG 2021.

According to ANPG, once the oil concessions are awarded, the oil and gas operations in country will grow, and create new opportunities for continued investment, skills development and socio-economic growth. The concessionaire is shifting focus from high operation intensive fields in Angola's offshore waters to onshore explorations, with a primary objective of developing a robust oil and gas sector that is competitive within the region.

“This is a capital-intensive industry, and we want to ensure we create investment opportunities for the development of onshore exploration activities. These results further cement the concessionaire's intent to develop strong local oil and gas capabilities that will significantly contribute to Angola's energy independence goal,” said Natacha Massano, Executive Administrator at ANPG.

The concessionaire is expecting to award the oil concession to the bid winners on September 23, and is simultaneously accepting investment proposals for the new bid round for eight oil blocks of which three are in the Kwanza Maritime Basin (blocks 7\21 8\21 and 9\21) and five in the lower Congo Maritime Basin (blocks16\21, 31\21 32\21 33\21 and 34\31) as part of the agency´s efforts to boost oil and gas exploration and production in Angola.

ANPG announced the new bid round (https://bit.ly/3lBpJ1M) at AOG2021, an event where ANPG's Senior Executives actively promoted Angola as the best market to invest in the energy industry in a post-Covid 19 era. The concessionaire representatives played a vital role in various high-level panel discussions, promoting the Agency's position as a critical partner in creating highly valued investment opportunities in the Angolas energy industry.

Distributed by APO Group on behalf of Energy Capital&Power.

Send us your press releases to pressrelease.zawya@refinitiv.com


© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases