Image: Ver Angola
Sonangol and ENI have signed a production sharing agreement for blocks 27 & 28 in the Namibe Basin.
ENI is the licensed operator for block 28 with a 60% stake, while Sonangol owns 20% and Tiptop Energy limited the remaining 20%. Angolan concessionaire Agência Nacional de Petróleo, Biocombustíveis e Gas (ANPG) expects to attract $5.5 billion in the next five years through the exploration and production of oil blocks in the Namibe basin. Sonangol Pesquisa e Produção will hold a 100% stake on Block 27.
The Angolan national oil company recently launched a regeneration program, with a specific focus on the energy industry value chain, from exploration, research, and production of crude oil to refining distribution and commercialization and promoting investment opportunities for Angola’s energy industry.
This agreement reflects both the interests of the Angolan government and oil operators to continue to invest and optimize oil production in Angola.