Agreement enables production of 420 million cubic feet of gas

Luanda The National Petroleum, Gas and Biofuels Agency (ANPG) and five oil companies signed on Monday, in Luanda, two agreements for exploration, development and production of natural gas and cost sharing, which is expected to produce about 420 million cubic feet of gas / day as from 2022.

The project, valued at US $ 2 billion, foresees the exploration and development of natural gas resources, which will be made in blocks 1, 2, 3, 14 and 15 and aims to close the decline in gas supply to the Angolan plant, LNG, located in northern Zaire province.

The two protocols were signed by the chairmen of ANPG’s board of directors, Paulino Jeronimo of Sonangol Research and Production, Ricardo Van-Desta, the directors of ENI companies, Andrea Giaccardo of BP Stephen Wills of Total, Olivier Juony, Angola LNG, Amadeu Azevedo and Chevron’s, Darek Magnes.

Currently gas production in the country, through Angola LNG, fluctuates between 800 and 900 million cubic feet / day, and from 2022 with the start of operation of this consortium, could increase up to half of this production.

In the consortium, Chevron owns 31 percent, BP 11.8 percent, Total 11.8 percent ENI 25.6 percent and Sonangol PP 18.8 percent.

At the ceremony, Minister of Mineral Resources and Oil, Diamantino Azevedo, considered necessary for the success of natural gas, knowledge of natural gas, appropriate legislation for its promotion and support to Angola LNG for the promotion of this national industry

Source: Angola Press News Agency