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Angola plans onshore oil and gas auction for early 2023

Thu, 06th Oct 2022 11:03

CAPE TOWN, Oct 6 (Reuters) - Angola will launch its 2023 bidding round for 12 onshore oil and gas blocks in the Lower Congo and Kwanza Basin early next year, a senior official at the National Agency for Petroleum, Gas and Biofuels (ANPG) said on Thursday.

Africa's second-largest oil producer behind Nigeria did not hold any oil and gas auctions this year, partly because of presidential elections.

The next auction is part of the country's 2019-2025 exploration strategy, seeking to boost dwindling output and maintain base production above 1 million barrels per day (bpd) until 2040.

"We are looking at the first quarter of 2023 to launch," ANPG board member Natacha Massano told Reuters on the sideline of an African oil conference in Cape Town.

Angola, a member of the Organization of the Petroleum Exporting Countries (OPEC), is producing about 1.2 million bpd currently.

Oil companies operating in Angola include TotalEnergies , BP, Exxon Mobil and Chevron.

Angola aims to award up to 50 oil and gas blocks by 2025, with blocks located onshore as well as ultra-deep and deep waters. (Reporting by Wendell Roelf Editing by Bhargav Acharya and David Goodman)

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