Angola’s National Oil, Gas and Biofuels Agency (ANGP), announced that it will conduct international bid round for awarding new oil concessions in the country with entry fees worth $1 million, according to Energy Mix Report.

The agency elaborated that the tender includes nine blocks: three in the Terrestrial Basin of the Lower Congo and six in the Terrestrial Basin of the Kwanza and it opens 120 days starting from December 31, 2020.

Paulino Jerónimo, Chairman of the Board of Directors of ANPG, stated that this license sale has a mandatory condition of participation the payment of an Entry Fee (Entry Free) in the amount of $1 million which will allow access to the Data Packages related to the basins to bid.

“The deadline for the submission of proposals runs until June 9, 2021, in compliance with the 40 days provided for by law, and the opening ceremony for proposals will take place on June 10, 2021.”, added,

“This 2020 bid aims to relaunch the exploration and production of hydrocarbons in the terrestrial areas of the referred basins, to decrease the decline in production, by increasing the exploration and discovery of new resources, to stimulate the local creation of small and medium oil companies, to promote the incorporation of qualified Angolan labor, as well as fostering technological innovation and good governance practices.”, according to Jerónimo