FILDA/2018: Oil sector to launch bid for new concessions soon

Luanda – The oil sector will launch soon a bidding campaign for new concessions, the Secretary of State for Geology and Mining, Janeo Correa Victor has announced.

Janeo Correa Victor was speaking at the 34th Edition of Luanda International Fair (FILDA2018) on Friday.

According to him, the move follows the high interest the oil operators in Angola are showing in recent times in increasing the exploitation of hydrocarbons in deep waters.

As example, he pointed to the agreement recently signed by national concessionaire Sonangol and Total for the operation of Block 48.

The State secretary visited the stands of the oil operators such as Total, BP, Exxon Mobil, ENI and Sonangol itself and its subsidiaries.

“We found that the oil sector is taking its place despite the difficulties previously experienced,” he said.

The national concessionaire is working with the oil companies on approval of projects to ensure short-term impact, such as Zinha Phase 2 – Block 17, he added.

Source: Angola Press News Agency