Petroleum Africa
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Wednesday, February 26, 2014
Angola’s upcoming licensing round is seen as a prime opportunity to gain acreage by smaller firms according to the Economist Intelligence Unit (EIU). Unlike the pre-salt blocks previously put up for auction that require extensive funding for drilling, the new round is for onshore acreage which is not as investment intensive.
Onshore “operations are cheaper,” and therefore are a “gateway for smaller, national and international companies,” said the EIU.
Sonangol announced in January that the licensing round for 10 onshore blocks was once again on, having been delayed from the previous year.
Sonangol will host roadshows with its technical presentations in the UK and the US.
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