Angola OKs Indian bid

NEW DELHI – State-run Oil and Natural Gas Corp has qualified to bid as an operator for Angolan deepwater blocks, now likely to be offered after elections in the African nation, India said in a statement.

Indian Oil Minister Murli Deora on Friday met his Angolan counterpart, Desiderio Costa, on the sidelines of the World Petroleum Congress in Madrid. “Mr Costa informed that Angola is planning to offer more than 10 offshore exploration blocks, including deepwater blocks, for bidding by E&P (exploration and production) companies.The bids are likely to be invited after elections later this year,” the oil ministry said in a statement.It added Angola would consider a suggestion from Deora that ONGC Videsh Ltd, the overseas investment arm of ONGC, and Sonangol, Angola’s national oil company, should jointly bid in the next Angolan licensing round.Angola, now a member of OPEC and Africa’s largest producer, exports nearly all of its oil production, consuming only around 62 000 bpd domestically.Costa on Wednesday said crude output in Angola would reach 2 million barrels per day this year, – Nampa-Reuters”Mr Costa informed that Angola is planning to offer more than 10 offshore exploration blocks, including deepwater blocks, for bidding by E&P (exploration and production) companies.The bids are likely to be invited after elections later this year,” the oil ministry said in a statement.It added Angola would consider a suggestion from Deora that ONGC Videsh Ltd, the overseas investment arm of ONGC, and Sonangol, Angola’s national oil company, should jointly bid in the next Angolan licensing round.Angola, now a member of OPEC and Africa’s largest producer, exports nearly all of its oil production, consuming only around 62 000 bpd domestically.Costa on Wednesday said crude output in Angola would reach 2 million barrels per day this year, – Nampa-Reuters