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BP joins New Gas Consortium

BP has joined Chevron, Eni, Total and Angolan state firm Sonangol in forming a joint venture (JV) for exploration and production of gas in Angola.
 

The details: The New Gas Consortium (NGC) will be the first upstream natural gas partnership in Angola, and will be operated by Eni.

  • BP will hold an 11.8% stake in the JV. 

What will the JV do? Develop and supply gas to Angola’s Soyo LNG (ALNG) plant, in which BP is also a partner.

 

Why it matters: The NGC’s gas will be vital in meeting the demand of the ALNG plant, as well as domestic gas needs in the country.

  • It is the first gas field development in Angola. 
  • All other gas being produced is associated with oil field operations. 

Where will the gas come from? It will initially come from the Quiluma & Maboqueiro fields. The NGC also has rights to explore and develop in three other blocks in the country.

 

What we’re saying: 

 

“This agreement marks a milestone in Angola’s concerted efforts to create a gas industry and enter the global gas market. BP Angola is proud to support the reforms in the oil and gas sector with our partnership in the NGC.

"Alongside our recent final investment decision on the BP operated Platina field and the extension of our Block 15 and Block 18 licenses, this is a significant milestone in sustaining and extending our business in the country.”

 

– Stephen Willis, BP Angola regional president