Disappointing drilling results, high operating costs and unfavourable fiscal terms risk turning Angola into a no-go zone for upstream developers.
British supermajor BP announced in late June that it had exited Block 24 in the Kwanza Basin. Few reasons were cited for the departure, but BP previously said the 227 billion cubic metres of gas and 280 million barrels of gas condensate in the basin were not commercially viable.
BP is just one of several players to leave blocks in Angola over the past year in the...
Log in or register for a free trial to continue reading this article
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up