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Article: ANGOLA - E&P Regime.
- Article from:
- APS Review Downstream Trends
- Article date:
- February 26, 2007
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Sonangol grants the rights to oil and gas E&P in Angola on land and offshore. The areas to be explored are delimited in blocks of about 5,000 sq km and each concession is granted for a period of 20 years. When deciding to which of the bidders the concession is to be granted, Sonangol takes these factors into consideration: crude oil price uncertainties, estimation of the hydrocarbon reserves to be recovered, environmental impact, prospective basins, tributary legislation, knowledge of a basin's geology, access to the blocks, the types of operating conditions, and the level of technology being used.
Sonangol says in its website: "There has been a recent tendency ...