IHS Markit chosen to present oil blocks in Angola

19 August 2019

IHS Markit is the company chosen by Angola’s National Petroleum and Gas Agency (ANPG) to organise the global presentation of new oil blocks, the company indicated in a statement released in Houston, USA.

The consultancy, which previously led the process of presenting new Angolan offshore oil blocks in 2005 and 2007/2008, will this time promote ten blocks, nine in the Namibe Basin and one in the Benguela Basin, according to information from the ANPG.

The process will begin in Luanda on 3 September, with subsequent presentations in Houston, London and finally Dubai on 23 September.

“Besides the geological potential of each of the blocks up for bidding, the entire legal, tax and contract framework inherent to participation in the process will also be presented,” the ANPG statement specified.

The chair of the ANPG’s board of directors, Paulino Jerónimo, said this was an important moment for Angola and for the oil sector, recalling that “the last time Angola held a petroleum bidding process was in 2011.”

Angola is Africa’s second-ranking oil producer after Nigeria. It had produced up to 1.8 million barrels per day, but due to divestments in the last ten years its production has fallen to the current 1.4 million barrels per day. (Macauhub)