Angola’s state-owned company, Sonangol, on Tuesday revealed plans to put up 18 more offshore oil concessions for sale. This concessions includes six blocks in the Congo Basin (north) and another 12 in the Namibe Basin, south of the country.

The Namibe Basin Maritime Zone encompasses an area of over 68,000 km² off the coast of Namibe province. It is considered to have high oil production potentials.Recent figures from Sonangol shows that Angola now has 34 blocs available for concessions. 18 are in production phase and five have been abandoned.

In February 2015, the Government of Angola approved the division of the Namibe Basin Maritime Zone into 12 blocs for future oil concessions, under the terms of an executive order from the Oil Ministry.The document which was signed by the Minister of petroleum, Botelho de Vasconcelos (photo), was aimed at defining and establishing the division in blocs, therefore enabling future oil concessions.

Angola is currently Africa’s top oil producer, taking over the position from Nigeria, five times with output of over 1.7 million barrels per day, Macauhub reports.

Anita Fatunji