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Galp Energia Qualified for the First Time to Bid as Operator in Angola

12-18-2007

Portugal’s Galp Energia is qualified to compete as an operator in the next round of bidding for oil blocs in Angola, due to end in March 2008, according to the list of pre-qualified companies.

The Portuguese oil company is included in the list of 39 authorized operators, together with companies such as BP, Chevron, Eni, Gazprom, Petrobras, Sinopec, Total and India’s ONGC Videsh, with which Galp recently signed a partnership agreement.

The tenders will be for onshore blocs in Cabinda and Kwanza as well as for shallow water blocs.

State concessionaire Sonangol will also receive proposals until March 13 for three deep water blocs and a further three blocs in ultra-deep waters.
Forty-two companies are included on the list as “non-operators”, including Iberdrola, Gema, National Petroleum Corporation of Namibia, Repsol, Roc Oil and Sonangol Sinopec International.

According to the rules of the tender, these proposals should indicate the interest of the company in being an operator or non-operator, as well as the maximum and minimum stake intended in the blocs it competes for.

The winning companies will sign a sharing and production contract with Sonangol.

Galp Energia currently works in Angola in bloc 14, which is in its production phase and operated by US oil company Chevron.