[2020-02-21] Angola’s ANPG signs memorandum of understanding to increase oil production

Source: Macauhub

Angola’s National Oil, Gas and Biofuel Agency (ANPG) and the contractor group of Block 14, in Luanda, signed a memorandum of understanding for the redefinition of the area of development of this block, reported the Angolan press.

The memorandum, which includes an addendum to the development plan to increase oil production in that block, was signed by the ANPG and the group made up of Chevron (operator of the block – 31%), Total (20%), ENI (20%), Sonangol Pesquisa e Produção (20%) and Galp Energia (9%).

The addendum intends, through an additional investment of US$600 million, to increase production by around 51 million barrels by 2028.

The operating license of this block, with current production of 55 thousand barrels per day, was awarded in 1995 and it went into operation in December 1999.

The memorandum joins three areas of development in the Tombwe – Lândana area, allowing the drilling of test wells and development wells, said the president of the ANPG, Paulino Jerónimo.