off-the-wire

CORRECTED-(OFFICIAL)-UPDATE 1-Angola to launch auction for 12 onshore oil blocks in September

Kitco Media
By Reuters
Published:
Updated:
Reuters
(In paragraph 5 of March 31 item, ANPG corrects figures for potential production) CAPE TOWN, March 31 (Reuters) - Angola will launch a tender for 12 onshore oil blocks in the Lower Congo and Kwanza basins on Sept. 30, the National Agency for Petroleum, Gas and Biofuels (ANPG) said in a pre-launch announcement on Friday. Africa's second-largest oil producer behind Nigeria did not hold any oil and gas auctions last year, partly because of presidential elections.


ANGP officials told Reuters in October the latest auction was meant to be launched in first quarter of this year. The latest auction round is meant to re-launch exploration and production in onshore areas as well as help augment dwindling crude oil production of the OPEC member. "The estimated potential of the blocks described is 1,560 MMBO (million barrels of crude oil) for the Lower Congo Basin and 5,440 MMBO for the Kwanza Basin," ANPG said.


There are four blocks available in the lower Congo basin and eight in the Kwanza, it added. (Reporting by Wendell Roelf Editing by Promit Mukherjee)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.