The Terms of Reference for the ongoing bidding round for the onshore Kwanza and Lower Congo blocks contemplates the payment of certain bonuses and contributions under the respective Production Sharing Contract (PSC). These are structured as follows:

  • Production Bonus – A production bonus is due annually starting from the second year of production. The amount of the bonus is subject to offer/negotiation and is set in the respective PSC.
  • Social Projects Contribution – A contribution for social projects is due annually starting from First Oil. This may also include environmental projects. The amount of the contribution is subject to offer/negotiation and is set in the respective PSC.

Sonangol P&P and private Angolan oil companies are exempt from these payments in accordance with Presidential Legislative Decree 3/12, of 16 March 2012. Only foreign oil companies are liable to these payments.

The bonuses and contributions are not eligible for cost-recovery under the PSC.

The bidder’s offer for bonus/contribution is one of the items to be evaluated in the bidding round with a total weight of 15% (10% for bonus, 5% for social projects contribution). These percentages are applicable to all blocks on offer. The bonus/contribution element is the second most relevant criteria for bid evaluation after the minimum work program offer.

No “signature bonus” or other bonuses are required in this bidding round.

The deadline to submit bids is 15 November 2023.

Has been prepared by OneLegal , to which MC&A is a member.

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