LUANDA,
Angola, May 7, 2021/ -- Angola’s National Oil, Gas and Biofuel’s Agency
(ANPG) is
organizing two question and answer sessions, aimed at
investors globally to clarify information on its ongoing bid round for
onshore oil and gas blocks in the Congo and Namibe basins.
The
question and answer sessions, which will be hosted via webinar, will
shine a spotlight on oil and gas blocks in the Congo and Namibe basins
currently on offer in the ongoing bid round. Agency personnel will be on
hand to answer any questions pertaining to the ongoing bid round,
whether they are technical, legal or otherwise.
The agency, which
counts on Energy Capital & Power for support of its communication
efforts, will host the two sessions on May 12. The first session will be
from 08:30 to 10:30 and the second one will be from 15:00 to 17:00.
Angola’s
current licensing round – along with existing gas monetization and
downstream initiatives – represents a rare opportunity for Asian and
U.S. energy firms to expand their activities in sub-Saharan Africa’s second-largest oil and gas market.
Through
the bid round, Angola is inviting a new wave of explorers to take
advantage of promising opportunities in its onshore basins, that are
expected to yield commercial discoveries, expand existing datasets and
increase geological knowledge of Angola’s hydrocarbon potential. Given
the associated lower exploration risk profile of the onshore basins on
offer, Angola’s history of successful discoveries, and estimates that
put the estimated recoverable resources at commercial quantities, demand
is likely to be high. Furthermore, Presidential Decree 6/19
incentivizes marginal field investment via attractive fiscal terms, the
development of small-scale, unconventional resources and thus presents
high-return opportunities for junior, independent and indigenous
explorers.
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