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Angola: New Licensing Round on the Way

Monday, January 28, 2019

Angola is said to be in the final stages of preparing a licensing round. According to the country’s Minister of Mineral Resources and Petroleum, Diamantino Pedro Azevedo speaking to S&P Global, the round will be held in 2019 and launched at the Angola Oil & Gas 2019 Conference and Exhibition.

“The new strategy for the [licensing] of onshore and offshore blocks will be approved soon, and it will not just be a strategy for [this] year but for the period 2019-25,” said the Minister, adding that the acreage on offer would include onshore and offshore blocks for the Congo, Kwanza and Namibe basins.

The 2019 licensing round, Angola’s first in eight years, will include a new focus on the development of marginal fields.

Azevedo also revealed that the country was launching new projects with the intention of replacing declining reserves. “We launched the Kaombo 1, and [this] year we launch the Kaombo 2 – the second phase of the project,” he said.