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Angola Announces Intentions To Build Additional Oil Rigs

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August 11 2021

Angola plans to put another six oil rigs into service by the end of the first quarter of 2022, according to Diamantino de Azevedo, the minister of Mineral Resources, Oil, and Gas.

Diamantino de Azevedo made the announcement during the opening ceremony of the sector’s sixth consultative council on Friday in northern Cuanza Norte region, noting that the start of the additional rigs will bring the total number to ten.

He claims that the move is part of an effort to reverse the current significant decrease in output.

The approach includes a plan to eliminate unplanned stoppage by increasing equipment preventive maintenance and the development of new resources in mature fields utilizing 3D seismic to discover non-produced zones.

The strategy also includes the development of marginal fields, exploration within development zones, a boost in gas resources, the sharing of means, among concessions for cost reduction, and the expansion of local content.

Diamantino de Azevedo indicated that the National Agency of Oil and Gas (ANPG) is taking steps to reduce production declines in the short, medium, and long term.

Among the actions, the minister mentioned the overall strategy for the allocation of oil concessions from 2019 to 2025.

He stated that the strategy, which was adopted by the Executive in 2019, calls for the awarding of more than 50 blocks through public competition and direct negotiation.

The minister mentioned the 2019 bidding and direct negotiation of blocks in the Benguela and Namibe basins, as well as the granting of six blocks.

Diamantino de Azevedo further stated that a pre-announcement of the auction for three blocks in the Baixo Congo onshore basins and six in the Kwanza basins was made in December 2020.

This month, ANPG opened 46 proposals received in a public ceremony for the nine blocks put up for sale by a total of 16 companies.

Diamantino de Azevedo announced plans to hold a limited public tender in the Kwanza and Congo basins, having sent invitation letters to a number of enterprises.

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