Confirmed Offshore Pre-salt Oil Potential Drives Angola’s Plans to Auction Oil Exploration Rights to Onshore Kwanza Basin in 2013

Confirmed Offshore Pre-salt Oil Potential Drives Angola’s Plans to Auction Oil Exploration Rights to Onshore Kwanza Basin in 2013

Summary

In 2013, Angola is planning to auction oil exploration rights to the onshore Kwanza basin following positive results from pre-salt offshore exploration activities. These comprises the discovery of an offshore oil reservoir by Cobalt International Energy, Inc. in block 21 of the offshore Kwanza basin in February 2012 and the discovery of oil by Maersk Oil in block 23 of the offshore Kwanza basin in January 2012. The Cobalt International Energy, Inc. discovery has also confirmed geological similarities between Brazil’s offshore Campos basin (which has witnessed several pre-salt oil and gas discoveries in the past few years) and Angola’s offshore Kwanza basin. Angola is confident that the bidding will attract a high level of interest from international Exploration and Production (E&P) companies.

Scope

• The report highlights Angola plans to auction oil exploration rights to the onshore Kwanza basin, driven by the confirmation of its offshore pre-salt potential.
• The report provides information on two significant offshore pre-salt developments in Angola by Maersk Oil and Cobalt International Energy, Inc.
• The report also discusses Angola's successful rights awards to various international companies for offhore pre-salt potential in the Kwanza Basin in 2011.

Reasons to buy

• To know reasons behind Angola plans to auction oil exploration rights to the onshore Kwanza basin.
• To know about two recent offshore pre-salt developments in Angola
• To understand details of Angola’s pre-salt licensing round in 2011.