From Capital FM
Angola, Africa’s second-biggest crude producer, is to sell production rights for the first major onshore oil concessions, national producer Sonangol said.
“Ten blocks will be allocated” after presentations to potential investors this month and next in Luanda, London and Houston, the firm said in a statement.
State-owned firm Sanangol will still own the blocks seven of which are located in the Kwanza Basin and three in the Congo Basin but firms will be granted exploration and production rights.
Angola lags behind Nigeria as Africa’s biggest producer of crude, but it already taps about 1.7 million barrels per day, almost exclusively from offshore production.
