Africa Oil & Gas: Sonangol plans to auction 18 more oil concessions in Angola

Sociedade Nacional de Combustíveis de Angola (Sonangol) plans to put up for auction 18 more Angolan offshore oil concessions, indicates the annual report of the state-held oil sector concessionaire.

The bidding programme for the new concessions to negotiate with private operators, approved by the previous administration, includes six blocs in the Congo Basin (north) and another 12 in the Namibe Basin (south).

In February 2015 the Angolan government approved division of the Namibe Basin Maritime Zone into 12 blocs for future oil concessions, under terms of an executive order from the Oil Ministry cited by Lusa news agency.

The document signed by Minister Botelho de Vasconcelos aims to “define and establish the division in blocs” of that offshore zone, thus enabling “future oil concessions”.

The Namibe Basin Maritime Zone covers an area of more than 68,000 square kilometres off the coast of Namibe province. It is considered by experts to have high oil production potential.

More recent Sonangol figures indicate that Angola now has 34 blocs available for concessions. A further 18 are in production phase and five have been meanwhile abandoned.

Angola is currently Africa’s top oil producer, with output of more than 1.7 million barrels per day. (Macauhub/AO)