Angola: Sonangol cancels onshore tender

Issue 347 - 02 Jun 2017 | 2 minute read
Sonangol has cancelled a tender issued in 2014 offering five onshore blocks in the Kwanza Basin and three in the Lower Congo Basin. Sonangol said the original aim of the bidding process was to offer upstream opportunities to Angolan entrepreneurs and companies but the sharp drop in the oil price meant the concessions were no longer viable. A statement published on Sonangol’s website on 17 May said that the original terms published for the tender would not be profitable for companies in the near future, and no change was possible without raising questions about the transparency of the bidding process.

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