The government of Angola has approved the division of the Namibe Basin Maritime Zone in the south of the country, into 12 blocks for future oil concessions, according to an executive order from the country’s Oil Minister.
The document, signed by Minister Botelho de Vasconcelos that went into force on 6 February, noted that the decision was intended to “define and establish the division into blocks” of that sea area, thereby allowing for “future oil concessions.”
The Namibe Basin Maritime Zone covers an area of 68,000 square kilometres (km2) off the coast of Namibe province.
Angolan oil company Sonangol announced last June it planned this year to put up 12 offshore oil blocks for auction, adding to ten others on land currently in a bidding process.
According to the state-owned company, of the new blocks open to bids in 2015, seven are located precisely in the Namibe Basin (southern Angola) and five in the Lower Congo (north).
The national concessionaire, Sonangol is currently auctioning off ten other new blocks in the onshore basins of the rivers Kwanza and Congo, which may represent more than half of Angola’s known reserves. (macauhub/AO)