Alexa

OIL AND GAS

Angola approves oil and gas drilling in some natural zones and reserves

Angola approves oil and gas drilling in some natural zones and reserves
The Siliconreview
22 Febuary, 2021

In a recent press meet, Angola has stated that it has revoked a ban on exploration for crude and natural gas in preserved natural zones and reserves. It is allowing oil and gas drilling in some of the conserved areas. Reserved zones and reserves such as Kassanje Basin and the wildlife-rich Okavango River basin have been allotted for the oil and gas drilling.

The Mineral resource department said that prospecting would be allowed in only five percent of prospected zones, and only three percent will be drilled. Earlier, Norway and Gabon explored oil in protected zones. Angola's move will benefit the local communities to increase the fundamental resources with respect to the oil market, stated the Mineral resource minister Diamantino Azevedo.

In recent time4s the National Agency for Petroleum, Gas, and Biofuels of Angola had opened a limited public tender for a domestic company to carry out research and studies on the environmental impact, restoration, and restocking of the biodiversity and biogas in the eastern and western parts of Etosha and  Okavango River basin. The report is still to be signed into law by President Joao Lourenco, who had proposed the amendment.