Somoil, Simples Oil, Task Energy and Mineral One, are four out of thirteen private Angolan oil and gas companies participating in the Agência Nacional de Petróleos, Biocombustíveis e Gas (ANGP) 2020 onshore licensing round and have submitted investment proposals to operate in shared agreements on the available onshore blocks. Sonangol’s Pesquisa & Produção is also among the participating companies, with a proposed 20% participation on Block Kon 5 as a non-operator and $5 million in both social responsibility and environmental protection projects.
These early results demonstrate how investors are willing to explore Angola’s investment potential in the oil and gas industry. According to ANPG, the 2020 onshore licensing round was strategically prepared to invite medium and small-sized businesses to the Angolan oil and gas industry.
“At ANPG, we are always listening to the Angolan market needs, and we make the necessary changes based on the feedback we receive to create a healthy business environment that attracts investment attention from local and international companies,” said Paulino Geronimo, ANPG CEO.
Canadian MTI Energy has also showed interest to participate in eight out of the nine available blocks in the licensing round in which the multinational plans to participate as the official operator with 50% and 60% PSA’s and up to $4 million in annual contributions to social responsibility and environmental protection projects.
“New international companies like the giant MTI Energy are clear testimony that we are taking the right approach to position Angola as a preferred destination for investments in oil and gas-related projects,” he noted.