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Angola prepares auction for 9 oil blocks in Lower Congo and Kwanza basin

Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG) has launched an oil bidding round for oil exploration in nine blocks in onshore basins of Lower Congo and Kwanza. In the Lower Congo basin, reserves are estimated at 830 mbl (oil production over 30,000 bbl/d), whereas they are estimated at 400 mbl in the Kwanza basin (more than 82 mbl already produced).

Under the 2019-2025 Bidding Strategy, the government of Angola plans to allocate 55 oil and gas blocks through 2025. In 2019, 10 blocks in the Namibe and Benguela basins with estimated reserves of 7 Gbl of oil were put up for public tender. 31 blocks will be auctioned through public bidding 2020 and 2023. In addition to the nine 9 blocks in the Congo and Kwanza basin auctioned in 2020, a final round for areas in the same basins will be held in 2023. Angola is seeking to reverse the declining trend in crude oil production since 2015 (from 89 Mt to 73 Mt in 2018).