Petroleum Africa
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Friday, September 11, 2009
Manuel Vicente, the head of Angola’s state-owned oil company Sonangol announced that the country could launch a new bid round by the end of 2010.
“If we hold a bidding round it will only be at the end of next year,” he said, adding work on a new constitution and presidential elections, expected to take place in 2010, would delay the process. “We also want our existing oil blocks to mature,” he said.
This statement confirms early year reports that the country had no plans to launch a bid round in 2009, though as recently as last month, another company official had hinted that a round might be initiated.
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