Government of Angola grants new oil concessions to Sonangol

28 August 2014

The government of Angola has awarded concession rights for oil exploration rights in onshore areas of the Lower Congo and Kwanza basins to state company Sonangol said the Secretary of State for Oil after a Council of Ministers meeting.

Aníbal Silva also said that the concession included prospecting, exploration, development and production of liquid and gaseous hydrocarbons in the KON2, KON4, KON11 and KON12 blocks and allows the national concessionaire to carry out a preliminary assessment of existing resources and determine their potential .

Angolan company Sonangol next year plans to auction 12 offshore oil blocks in addition to 10 onshore blocks in the Kwanza and Congo river basins, which are already in the bidding process.

Of new blocks to be auctioned in 2015, seven are located in the Namibe basin (south) and five in the Lower Congo (north).

Angola is the second largest oil producer in sub-Saharan Africa, after Nigeria, with current production of some 1.6 million barrels per day. (macauhub/AO)