Angola Awards New Concession in Lower Congo Onshore Basin

Oil and gas companies Etu Energias, Effimax Energy and Grupo Simples Oil have been awarded a new concession for Block CON 8, located in the Lower Congo Basin onshore Angola.

The concession – awarded by way of Presidential Decree 143/24 of July 2, 2024 – will be operated under a Production Sharing Contract (PSC). Etu Energias will serve as the main operator.

The PSC for Block CON8 stipulates an exploration phase lasting five years from the signing of the contract. Upon a Declaration of Commercial Discovery, the production phase for each development area will extend for 25 years.