Angola has up to 30 opportunities across the oil and gas upstream sector readily available for global investors, Helder Hombo, Director of Negotiations at the National Agency for Oil, Gas and Biofuels (ANPG) told Energy Capital & Power last week.
In an exclusive interview during Angola Oil & Gas 2024, Hombo said Angola continues to revamp policies, introduce new licensing rounds and embark on direct negotiations with investors to exploit the prospects and stimulate investments within the oil and gas industry.
“We had an aggressive plan to award more than 50 concessions in six years, with 30 concessions awarded so far in four bid rounds,” stated Hombo, adding “Right now we still have a lot of opportunities amounting to thirty; six onshore, 11 in permanent offers and nine in bid rounds and for the first time we have marginal opportunities available.”
Hombo said the ANPG is offering flexible contract terms, co-defining fiscal and contractual terms with oil and gas firms to come up with their desired rate of return on investments for capital injected.
Hombo’s statement comes at a time when global firms such as Chevron, TotalEnergies and ExxonMobil have announced new investments in Angola to develop large-scale projects including the $6 billion Cameia and Golfinho initiative, Block 0 optimization as well as blocks 49 and 50 developments.
“In addition, we have a streamlined award process where we are fast tracking the awarding of contracts. In regards to contractual stability, there is not many countries in Africa that can guarantee what Angola offers oil and gas partners,” reiterated Hombo.