Luanda, Angola — 22 July 2013 – The government of Angola has approved a request for the state to legislate on the general conditions for bidding on oil blocks in the onshore areas of the Kwanza and Lower Congo basins in Angola and its enclave of Cabinda.
Macauhub News Agency reports that the document, which was approved by 124 votes in favour to eight against with 29 abstentions, was put forward by oil minister Botelho de Vasconcelos, according to Angolan news agency Angop.
On presenting the document the oil minister said that ahead of bidding for new onshore oil blocks, 10 onshore oil blocks in the Lower Congo basin and 23 blocks in the Kwanza basin had been split. This process had been submitted for approval to the council of ministers, which had drawn up a strategy for the concession of the blocks with a view to preventing social and environmental conflicts.
According to the minister bids for these blocks was intended to “maximise reserves to increase oil production, without affecting the primary and fundamental aim, which was to promote involvement of Angolan businesspeople in the oil sector, via public tenders.”
The government’s strategy, according to Botelho de Vasconcelos, also included attracting new national and international investment to the Angolan oil sector and increasing the employment and training of Angolan workers.
“This being the case, as part of the production target set by Angola for the next few years, Sociedade Nacional de Combustíveis de Angola (Sonangol) plans to launch an auction for 15 onshore oil blocks,” the minister concluded.
Source: Macauhub News Agency. For more information, click here.