Sonangol Looking for Onshore Block Bids

Tuesday, July 21, 2015

Sonangol is looking for the prequalified bidders in its licensing round to submit bids for 10 onshore oil blocks. Angola’s state-run oil firm said in a statement that companies who have prequalified include Chevron, ENI, Glencore, and Galp.

Seven of the new blocks are in the Kwanza basin and three in the Congo Basin. Deadline for bid proposals is September 18.

Sonangol said last year that the 10 blocks could hold up to 700,000 barrels of oil each in reserves.

Angola is requiring firms to work with local partners to bolster its local ownership in resources.

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