Back toour markets

Angola Overview

Angola

in figures

Oil reserves8.2 billion barrels

Oil production1.42 million bopd

Gas reserves422 bcm

Annual gas production3.02 bcm

Angola: Africa's Rising Giant

President João Lourenço has been reinvigorating the Angolan economy with long-awaited reforms, and the hydrocarbons industry, the anchor of the Angolan market, has been revitalised by his policies. The new National Oil, Gas and Biofuels Agency (ANPG) has replaced the NOC as the concessionaire, increasing investor confidence with an unbiased regulator. At Sonangol, the Regeneration Program is refocusing the NOC’s activities on the petroleum industry, with widespread asset divestment.

Holding steady as Africa’s second-largest oil producer, Angola is aiming to stimulate upstream investment with new incentives for marginal field development and exploration work. In 2019, Total’s Kaombo project saw its second FPSO come on stream in Block 32, and  Eni made its fifth commercial discovery in a year in Block 15/06. The ANPG is set to auction an additional 55 oil and gas blocks through 2025 with the aim of replacing the country’s reserves.

While the sub-Saharan country was hit hard by the oil price drop, the government’s economic and investment reforms received the endorsement of the IMF in the form of a USD 3.7-billion financing programme in December 2018. Meanwhile, Angola continues to strive to balance the need for foreign investment with the demand for local content. In October 2020, a presidential decree to support local content was published.

A new push to increase local refining capacity and electrification is boosting the downstream sector. Sonangol plans to construct two refineries – one in Cabinda and the other in Lobito – to help meet rising demand. The government plans to double the country’s installed power capacity by 2022 and reach 60% electrification by 2025.

The Oil & Gas Year Angola 2019 was produced in partnership with the Ministry of Mineral Resources and Petroleum, the ANPG, PwC, AmCham Angola, and the Association of Service Providers of the Angolan Oil & Gas Industry. The Energy Year Angola 2021 is currently in production.

Angola to launch oil and gas bid round April 30
NEWS
Angola - April 09, 2021

Angola’s oil and gas regulator has announced April 30 as the launch date of the country’s new bid round, with proposals expected…

READ MORE
Eni and partners to invest $7 billion in Angola
NEWS
Angola - April 08, 2021

Eni and its partners will invest USD 7 billion in Angola over the next four years, the company said on Wednesday.

The…

READ MORE
Maria Helena SAMUEL General Manager SONATIDE MARINE
Interview
Angola - April 08, 2021

Maria Helena Samuel, general manager of Sonatide Marine, talks to The Energy Year about how the company has maintained business…

READ MORE
Eni makes major oil find in Angola deepwater
NEWS
Angola - April 06, 2021

Eni has made a major light oil discovery in Angola’s deepwater offshore Block 15/06, the Italian super-major announced on…

READ MORE

Angola maps

Angola Licence Areas and 2019-2025 Licensing Strategy

ALL MAPS
Alberto FIGUEIREDO CEO OPERATEC
Interview
Angola - April 06, 2021

Alberto Figueiredo, CEO of Operatec, talks to The Energy Year about the state of the Angolan upstream sector and the company’s…

READ MORE
Angola to hold bid round roadshow April 12
NEWS
Angola - April 05, 2021

Angola’s National Oil, Gas and Biofuels Agency (ANPG) is set to hold a roadshow for the country’s 2020 bid round on April…

READ MORE
Kosala WIJESINGHE GAC Angola
Interview
Angola - April 02, 2021

Kosala Wijesinghe, general manager of GAC Angola, talks to The Energy Year about how the company’s services and strategy are evolving as activity resumes in Angola…

READ MORE
Bráulio de BRITO Chairman of the Board AECIPA
Interview
Angola - March 23, 2021

Bráulio de Brito, chairman of the board of the Association of Service Providers of the Angolan Oil & Gas Industry (AECIPA), talks to The Energy Year about why the…

READ MORE
back to top

 

WHOSE PLATFORM IS THIS?
ASK US

  • Do you have a question for TOGY about oil and gas?
  • If we know, we’ll tell you.
  • If not, we’ll ask the experts in the field.