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The NGOs spoke out shortly after Tanzanian of support.
and Ugandan officials told the press that they For its part, Standard Bank Group has
expected construction work on EACOP to reacted to the letter by pointing to its own pol-
begin in less than a month. icy of imposing restrictions on lending for oil,
Total has not yet divulged exactly when it gas and coal projects. “We support responsible
hopes to break ground, but it did respond to a investment through assessing and managing
query from Reuters by saying that it was work- our environmental, social and governance
ing to avoid damage and disruptions. (ESG) risks,” the bank told Reuters in an emailed
EACOP was designed “with the overarch- statement. “Standard Bank’s new fossil fuels
ing concern of minimising and mitigating the financing policy sets out stringent conditions
impacts on local communities,” the French com- for lending to fossil fuel projects. Among other
pany stated earlier this week. To this end, it said, conditions, project owners must commit to
households affected by construction are slated to minimising or reducing greenhouse gas [GHG]
receive compensation, housing and other forms emissions.” ™

INVESTMENT
ANPG offers free access to data

on blocks in onshore licensing round

ANGOLA ANGOLA’S National Agency of Petroleum, Gas
and Biofuels (ANPG) has said it will make data
on all nine onshore blocks involved in the coun-
try’s next licensing round available to all poten-
tial investors free of charge.
In a statement, the agency said that interested
companies would be able to schedule times for
viewing data packages on all nine blocks, includ-
ing accessibility studies, geological information,
legal information, maps and seismic data. These
packages will “include the most relevant and
essential information about the areas of inter-
est,” it said.
It went on to say that the data made availa-
ble to potential investors would “provide a solid
base on which to build models to understand Angola’s next licensing round covers nine onshore blocks (Image: ANPG)
the oil and gas potential of the blocks on offer.”
Access to these packages should help companies upstream projects. It identified the target bid-
“prepare their proposals and their future strat- ders as “medium-sized explorers [in] Angola’s
egy for exploration and development of these basins that have proved prolific in recent years
concessions,” it added. and provided returns for companies well above
ANPG explained in its statement that it industry averages elsewhere.”
was making the data freely available in order The upcoming licensing round will cover
to ensure that the sale of the blocks, which lie three blocks in the Lower Congo Basin (CON-
within the Kwanza and Lower Congo basins, 1, CON-5 and CON-6) and six blocks in the
was transparent. Openness in the licensing pro- Kwanza Basin (KON-5, KON-6, KON-8, KON-
cess should serve as a sign that participants can 9, KON-17 and KON-20). ANPG is due to start
expect winning bidders to secure agreements for accepting bids before the end of April.
the relevant acreage, it said. The agency will permit both foreign and
It also indicated that it hoped this step would domestic companies to participate in the bid-
alleviate any concerns about the upcoming auc- ding, but it has encouraged local firms to submit
tions among potential investors. “This will sig- offers. Last year, it said that domestic firms that
nificantly reduce the risk of companies entering won the upcoming auctions would pay a petro-
the process with many uncertainties,” the state- leum income tax of 30% instead of the usual
ment noted. rate of 50%. It also stated that Luanda would not
ANPG went on to say that it aimed obligate Angolan firms that submit winning bids
to attract bids from companies that to pay signature bonuses or provide funding for
already had some experience in Angolan social welfare initiatives. ™

Week 09 03•March•2021 www. NEWSBASE .com P9