Angola intends to implement faster exploration concessions from next year as part of a \u200bnew long-term hydrocarbon strategy that aims to attract \u200cinvestment and stimulate oil and gas production, a senior government official said on the sidelines of an energy conference in \u200bCape Town.<\/p>\n
The 25-year plan seeks \u200bto build on regulatory reforms that have seen \u2060oil companies, including TotalEnergies\u00a0and Eni, recently commit billions of \u200bdollars to projects in Sub-Saharan Africa’s second-largest oil producer \u200bafter Nigeria.<\/p>\n
Angola intends to drop its multi-year oil and gas auction rounds and will open up more than 100 blocks, mainly \u200bonshore, as soon as the plan is passed \u200blater this year, said Alcides Andrade, a board member at the \u200cNational \u2060Agency for Petroleum, Gas and Biofuels (ANPG), late on Wednesday.<\/p>\n
He said ANPG wanted to reduce the time taken to award concessions, aiming for a three-month process versus the \u200bcurrent six \u200bmonths.<\/p>\n
On exploration, \u2060it will not be a “one-size-fits-all” approach on terms and conditions, but rather a risk-profile-based \u200bmodel that distinguishes between marginal or mature \u200bfields \u2060and onshore versus deep-water blocks, for example.<\/p>\n
Drilling more exploration wells will hopefully lead to higher crude production over \u2060the long \u200bterm, Andrade said, as Angola \u200baims to grow its current oil output of around 1 million barrels \u200bper day.<\/p>\n","protected":false},"excerpt":{"rendered":"
Angola intends to implement faster exploration concessions from next year as part of a \u200bnew long-term hydrocarbon strategy that aims to attract \u200cinvestment and stimulate oil and gas production, a senior government official said on the sidelines of an energy conference in \u200bCape Town. The 25-year plan seeks \u200bto build on regulatory reforms that have […]<\/p>\n","protected":false},"author":6,"featured_media":9578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":6,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2831,2362,30],"tags":[275,2730],"class_list":["post-22294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-featured","category-southern-africa","tag-angola","tag-cape-town"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22294"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22294\/revisions"}],"predecessor-version":[{"id":22295,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22294\/revisions\/22295"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9578"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}