Bloomberg News

Angola May Hold New Oil Bidding Round Next Year, Sonangol Says

March 13, 2012

Angola may hold a new oil-bidding round next year, a senior official at state-owned oil company Sonangol EP said today.

“We haven’t decided yet on the areas on offer,” Gaspar Martins, an executive board member at Sonangol, told reporters at a conference in Kuwait. Some may be onshore, some deepwater, he said.

Angola, Africa’s biggest oil producer after Nigeria, awarded BP Plc and Statoil ASA (STL), among others, the right to explore for oil and natural gas in deepwater pre-salt blocks, former chairman of Sonangol Manuel Vicente said on Dec. 20. Angola is “gradually” increasing its 1.6 million barrels-a-day production, and the country’s oil output may reach 2 million barrels a day in 2014, Martins said.

Sonangol is also seeking partners for its venture in Iraq, he said.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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