Twenty-two overseas and indigenous players submitted 53 bids for acreage in Angola’s latest onshore licensing round, offering hope for a further resurgence in land-based exploration and production activities in the long neglected Lower Congo and Kwanza basins.
The round is the latest in a number of planned acreage offerings by Luanda as the government strives to maintain — and hopefully boost — oil production, while also encouraging local participation in the upstream sector.
