Angola’s ANPG Promotes Onshore Exploration
In mid-April this year, Angola’s National Oil, Gas and Biofuels Agency (ANPG) started a virtual and physical roadshow for its 2020/21 bid round, with promotional activity commencing in the capital Luanda. The acreage on offer comprises a total of nine onshore blocks. These are CON1, 5 and 6 in the Lower Congo Basin and blocks KON5, 6, 8, 9, 17 and 20 in the Kwanza Basin. This latest licensing round was launched on 30 April and will conclude on 9 June with contracts currently forecast to be signed on 22 November. Interested parties are encouraged to seek one-on-one meetings with the ANPG to discuss participation in further detail and a promotional video is also available.
Onshore exploration activities in Angola have led to the discovery of over a dozen commercial oil fields and one natural gas field, with reserves ranging between five and 40 MMbo. It is thought that there is significant upside potential untapped in deeper targets in both the rift and transitional phase reservoirs.
ANPG is also seeking to increase the number of companies exploring in Angola by granting potential investors access to data packages before purchasing them, helping to minimise cost and risk, and improving transparency in the process. Data packages are available for the onshore basins, providing key geological information, including dedicated reports on the stratigraphy, structural analysis, and hydrocarbon potential of each area. Studies on infrastructure, GIS information and relevant legal, fiscal and commercial information is also available. Additionally, vintage seismic data is also obtainable for acreage in the Kwanza Basin.
An evaluation of Angola’s oil and gas prospects, conducted at the end of 2020, increased estimated reserves to 57 Bbbls and 27 Tcf of gas, from previous estimates of 8.2 Bbbls and 13.5 Tcf, which would give Angola the largest oil reserves in Africa. The better known offshore deep- and ultra-deep water exploration areas have attracted most attention from operators and the Kwanza Shelf is of increasing interest due to new broadband 3D seismic data and several successful exploration wells. Geologically, the shallow-water shelf is considered to be a good analogue for the prolific Santos and Campos Basins in Brazil, and has had several early discoveries in Blocks 20, 21 and 23 – including the Orca field, which is considered to be one of the largest pre-salt discoveries in the Kwanza Basin so far. ANGP have announced they will work towards awarding more than 50 exploration blocks from deepwater areas to shallow basins through 2025, so more offshore blocks are expected to be offered in the next few years.