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Angola Onshore Bid Round to Begin Apr 30

Rig Lynx
  • By Rig Lynx
  • Apr 12, 2021
  • Category : Archives
  • Views : 307

 

The National Agency of Petroleum, Gas and Biofuels (ANPG), within the scope of the 2019-2025 General Strategy for the Awarding of Petroleum Concessions, announced on December 31, 2020, the intention to bid Blocks CON1, CON5 and CON6 (Onshore Lower Congo Basin) and Blocks KON5, KON6, KON8, KON9, KON17 and KON20 (Onshore Kwanza Basin), thus beginning the promotion process.

Currently, several activities are underway that guarantee greater involvement of investors interested in the referred process, namely: the carrying out data showrooms; the sale of data packages of the blocks on bid; sessions to clarify the 2020 Bidding process; and one-to-one meetings arranged with interested investors.

 

The ongoing promotion process will culminate with the official public tender launch, on April 30, when the rules, procedures and Terms of Reference of the mentioned tender will be published.

 

After the launch of the tender, investors have up to 40 days to submit their proposals, as well as the proof of payment of the $ 1,000,000.00 (one million USD) entry fee and documents stating its good reputation, technical and financial capacity. Such documents are relevant in order that interested parties comply with the requirements of an associate of the national concessionaire regarding the status of an operator and non-operator, under the terms provided in paragraphs 1 and 2 of article Nr. 45 of Law no. 10/04, of 12th November (Petroleum Activities (Law ), in conjunction with articles Nr. 3, 4 and 5 of Presidential Decree No. 86/18, of 2 nd April (Rules and Procedures for Tenders for the Acquisition of the Quality of Associate of the National Concessionaire and Contracting of Goods and Services in the Oil Sector).

 

In order to safeguard the rights and obligations of the associates of the national concessionaire, investors must be aware of the provisions of the Law no. 10/04 ( articles Nr. 29, 30 and 31) and the contract to be signed, as follows:

 

  • The mandatory cash calls for operations, and all obligations under the terms established by Law no. 10/4;

  • The investment in the exploration period is not recovered in the event of unsuccess;

  • The minimum work obligations that must be assured by a financial guarantee, as established in the Production Sharing Agreement;

  • The execution of work programs must take place within the established deadlines.

 

For additional information regarding the 2020 Bidding Process and Angolan legislation, investors can access the website www.anpg.co.ao.

 

Source: Petroleum Africa 

 

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