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New discoveries in Angola's Prolific Basins fuel interest in ongoing bid round – Newstime Africa newstimeafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newstimeafrica.com Daily Mail and Mail on Sunday newspapers.
New discoveries in Angola's Prolific Basins fuel interest in ongoing bid round – Newstime Africa newstimeafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newstimeafrica.com Daily Mail and Mail on Sunday newspapers.
ENI announced on Tuesday 06 April, that it had made a new discovery in Angola. The Italian Major’s latest oil discovery in its Block 15/06 concession offshore Angola underlines why Angola’s Prolific Basins and conducive regulatory framework continue to prove attractive despite stiff competition from new frontiers like Guyana and Suriname. It is also for this reason that the current bid round for three onshore blocks in the Lower Congo Basin, and six onshore blocks in the Kwanza Basin, run by the National Agency of Petroleum, Gas and Biofuels (ANPG) is attracting a lot of interest from the industry. In the past twelve months, COVID-19 and resultant oil price instability have threatened investment globally in seismic acquisition, new drilling and other ‘non-essential’ activities. Yet what has remained constant during this period is the magnitude of Angolan oil and gas reserves, which not only represent some of the least explored basins globally, but also appear to grow i ....
By Andres Vega, International Associate at Centurion Law Group. Angolan lawmakers last week approved the revision of current legislation, allowing for oil and gas pre-exploration studies to be carried out in some areas previously designated as natural reserves. The government however stressed, that this law was by no means a relaxation of the stringent environmental provisions required for oil exploration in Angola that already exist. According to H.E Diamantino Pedro Azevedo, Minister of Mineral Resources and Petroleum, less than 3% of the zones previously designated as protected are likely to be affected by this provision. Angola’s constitution and applicable presidential decrees all mandate that oil and gas exploration only be carried out in a manner that is environmentally friendly. The proposed new law secured a majority of over 70% in Angola’s parliament. ....
Angola's ANPG moves to make 2020 bid round more transparent - Energy Industry Today einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.