ANPG and BP Sign Agreements for Offshore Angola
Angola’s National Agency for Oil, Gas and Biofuels (ANPG) has signed two agreements with multinational oil and gas company, BP.
The first contract is to acquire exploration rights for Block 18/15 located offshore Angola and sets out the process and the general terms for the subsequent signing of a service risk contract (CSR) between ANPG and the partners of Block 18. The block is already in production and operated by BP, Sonangol P&P and Sonangol Sinopec International.
The second contract focuses on the process of removing landmines in Angola and supports a memorandum of understanding with the Halo Trust, which is aimed at extending this work in Benguela Province until 2025. The new agreements establish an increase in financing to $6.1 million, shared between Blocks 18 and 31.
“This is a Principles Agreement that will allow us to have a contract and the consequent prospecting activity in an area with a lot of oil potential and where we already have some oil discoveries,” said the President of the Board of Directors of ANPG, Paulino Jerónimo, adding that “BP, as the current operator of Block 18, is highly engaged, which increases the conviction that we will have an ambitious work program.”
BP Angola’s President, Stephen Willis, stated that the company was excited to explore a new area offshore Angola. “The Cretaceous formations in Block 18/15 present good opportunities for exploration and potential developments, added to the underwater connection (also known as subsea tie-back) to the existing facilities in the Greater Plutonium Development Area in Block 18.”
Returning for its second year, the Angola Oil & Gas Conference & Exhibition will be hosted in June 16-17, 2020 in Luanda, and will focus on an international investment drive aimed at bringing new deals and signing new entrants into Angola’s oil and gas sector.