National Gas agency meets with national oil companies

Luanda – The National Agency of Petroleum, Gas and Biofuels (ANPG) is to meet with national oil companies on March 25 to discuss issues related to the bidding process for oil exploration in the onshore and Lower Congo and Kwanza basins.

The purpose of this clarification meeting is to provide information on the legal and contractual framework, the certification of companies by the Ministry of Mining and Petroleum Resources, access to the areas, environmental issues and the bidding process/2020.

The Basin of Lower Congo is located on the west coast of Africa, bounded to the north by Gabon and to the south by the Kwanza Basin.

The Lower Congo Basin Land Area has a sedimentary area of approximately seven 7,000 square kilometers.

Oil exploration and production activities in the Lower Congo basin began during the 2nd decade of the 20th century.

Meanwhile, the active exploration and development phase took place between 1967 and 1992.

During that period, 13 oil fields and one gas field were discovered. In these oil discoveries, reserves were estimated at 830 million barrels and oil production was over 30,000 barrels of oil per day.

The Kwanza basin, on the other hand, is a 25,000 square kilometer-area of land around the mouth of the Kwanza River, which is conducive to hydrocarbon exploration.

The exploration for crude in this region began between 1952-1974, and significant commercial reserves were discovered, which made it possible to consider this area as one of the main points of crude exploration in Angola.

Although no further exploration work has been carried out in this region in the last 20 years, it is estimated that there are reserves that could prove as successful as those discovered in deep waters.

Source: Angola Press News Agency