On April 7, Angola’s National Oil, Gas and Biofuels Agency announced that the next oil and gas bidding rounds for nine onshore blocks will be launched on April 30, when the terms of reference for the concession blocks will be formally disclosed.
This announcement is in compliance with the General Strategy for the Awarding of Petroleum Concessions 2019 – 2025, approved by Presidential Decree no. 52/19 and with the Agency’s announcement made in 31 December 2020.
Areas being offered include blocks in the Lower Congo and Kwanza basins: Blocks CON1, CON5 and CON6 in the Lower Congo Onshore Basin and Blocks KON5, KON6, KON8, KON9, KON17 and KON20 in the Kwanza Onshore Basin.
Regarding timelines, the Angolan government expects to receive the bids by June 9, 2021, open the proposals on June 10, 2021, evaluate the proposals by July 26, 2021, award the concession areas by August 10, 2021, negotiate the agreements by October 19, 2021, and sign the agreements on November 22, 2021.
The investors who want to participate in this bidding round will have to pay the entry fee (USD 1 million) and may submit their bids until 40 days after the launch.
Article by Duarte Marques da Cruz
Duarte Marques da Cruz is partner of the Portuguese law firm MC&A, specialized in international business advisory, with a special focus in Lusophone markets. With extensive experience in the Energy sector (Renewables and Oil & Gas) and in International Taxation, he has supported international companies in major upstream, midstream transactions and projects, including in implementing, exploration and development programs. Duarte has also supported international clients in other areas of practice, namely, Mining, Transport & Logistics, Regulatory Compliance and Mergers & Acquisitions in Mozambique, Angola and Portugal.