Angola’s National Agency for Petroleum, Gas, and Biofuels announced that Oando, the Nigerian junior company, has joined the Contractor Group of Block KON 13 as operator with a 45 percent participating interest. Effimax Energy – Serviços, Lda holds 30 percent, Sonangol Exploração & Produção holds 15 percent, and Walcot Ltd holds 10 percent as partners in the block.
The block sits in the Kwanza Onshore Basin and holds strong exploration potential in both pre-salt and post-salt formations, with estimated prospective oil resources ranging from 770 million to 1.1 billion barrels, according to the regulator.
The agency also stated that companies previously drilled two exploration wells on the block to depths of up to 3,000 meters and identified oil and gas at different levels.
Paulino Jerónimo, Chairman of the Board of Directors of ANPG, said Oando’s entry into Angola shows that African oil companies increasingly view the country as a stable destination for investment.
source: africaoilgasreport.com
African Energy Council