Angolan oil company Sonangol to auction 15 onshore oil blocks

Angolan state oil company, Sociedade Nacional de Combustíveis de Angola (Sonangol) plans this year to auction of 15 onshore oil blocks, the company’s chairman said Monday in Luanda.

Marking the company’s 37th anniversary, Francisco Lemos Maria said that ten of the 15 blocks, all located on land, were in the Kwanza River basin and the remainder were in the Congo River Basin.

Lemos Maria also noted that Angola’s oil production had increases in 2012 by 4.5 percent, which increased domestic production by 75,000 barrels of oil per day, although the company had expected an increase of at least 13.3 percent, which would have added 188,000 barrels per day.

In 2012 Angola posted average oil production of 1.7 million barrels per day.

The chief executive of Sonangol, Baptista Sumbe, said that the natural gas processing factory of the Angola LNG project, in Soyo, Zaire province, was facing some technical issues.

Noting that the project was behind schedule, Sumbe also said that as a result of these problems, which he did not detail, work was underway at the factory that was due to be concluded within four to five weeks.

The CEO said that as soon as the work was finished the date of the first load of liquid natural gas for export would be announced.

The investors in the Angola LNG project, which has potential to process 1 million cubic feet of gas per day to be sold in Mozambique and abroad, are Sonangol Gás Natural, Limitada (22.8 percent), Cabinda Gulf Oil Company Limited (36.4 percent), BP Exploration (Angola) Limited (13.6 percent), ENI Angola Production BV (13.6 percent) and Total LNG Angola Limited (13.6 percent). (macauhub)

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