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Home >> Business
UPDATED: 16:37, October 19, 2005
Angolan state oil firm launches seven offshore block auctions
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Angolan State Oil Company (SONANGOL) has announced that it will launch licensing rounds in seven offshore oil blocks by December 13.

SONANGOL, concessionaire to all hydrocarbon deposits in the Angolan territory, said it is seeking bids to operate offshore Blocks 1, 5, 6 and 26.

Fresh exploration rights will also be awarded in Blocks 15, 17 and 18, said the Angolan state oil operator.

Angola is sub-Saharan Africa's second oil producer, pumping about 1.1 million barrels of crude daily.

SONANGOL said earlier this year that Angola's petroleum production will hit 2 million barrels a day by 2008.

Source: Xinhua


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