ANGOLA CALLING FOR NEW ROUND OF BIDS FOR CONCESSIONS

LUANDA– Angola will soon be calling for bids for new new oil exploration concession areas, says the Secretary of State for Geology and Mining, Janeo Correa Victor.

Speaking at the ongoing 34th Luanda International Fair (FILDA2018) here Friday, he added that there had been high interest shown by the oil companies operating in Angola recently to expand their activities in the exploitation of hydrocarbon resources in Angola’s deep water areas.

As an example, he pointed to the agreement recently signed by the national hydrocarbon corporation, Sonangol, and French oil major Total for the operation of Block 48.

The State Secretary on Friday visited the stands of oil companies at FILDA 2018, including those of Total, BP, ExxonMobil, ENI and Sonangol and its subsidiaries.

Meanwhile, BP Angola says it has spent some 30 billion US dollars prospecting, research, exploration and development of oil fields in Angola over the past 20 years. The investments were made in blocks 18 and 31 (as operator) and blocks 15 and 17 (as shareholder of the contractor group) and in the Angola Liquefied Natural Gas (ALNG) project.

BP Angola added in a statement here that during the period, it had produced more than 879 million barrels of oil from its operations in the country, which employed 773 Angolans employees.

The company also spent 370 millionUSD annually on payments to suppliers, while another 100 million USD were invested in social projects such as health, education, business development.

The operations manager of block 18, Tony Vueba, put the current BP production in Angola at about 200,000 bpd in blocks 18 and 31, adding that the aim is to increase the production.

Source: NAM NEWS NETWORK