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.

Eni seeking FPSO for billion-barrel Angola field
NEWS
Angola - July 29, 2021

Eni is seeking an FPSO vessel for its operated deepwater Agogo field in Angola’s Block 15/06.

The company has discovered more…

READ MORE
Kostelnik Exxonmobil Exxon Angola
Interview
Angola - July 27, 2021

Andre Kostelnik, who served as general manager of ExxonMobil in Angola until February 2021, spoke to The Energy Year about the…

READ MORE

Angola books

More books
Adriano BASTOS Senior Vice-President bp ANGOLA
Interview
Angola - July 23, 2021

Adriano Bastos, senior vice-president for bp Angola, talks to The Energy Year about the resilience of Angola’s hydrocarbons…

READ MORE
Hugo Teles Banco BIC Angola
Interview
Angola - July 22, 2021

Hugo Teles, CEO of Banco BIC, talks to The Energy Year about the Angolan economy’s recent performance and the impact of a new…

READ MORE

Angola maps

Angola Licence Areas and 2019-2025 Licensing Strategy

ALL MAPS
Interview
Angola -

João Carlos Germano e Silva, vice-president of business development at Ossi-Yeto, talks to The Energy Year about the…

READ MORE
Msuega TESE Executive Director INTEGRATED SOLUTIONS ANGOLA
Interview
Angola - July 15, 2021

Msuega Tese, executive director of Integrated Solutions Angola (ISA), talks to The Energy Year about the company’s services…

READ MORE
Interview
Angola - July 13, 2021

Gabriel Ferreira, CEO of Memangola, talks to The Energy Year about how demand is evolving in the Angolan construction market, how Angola can attract more international…

READ MORE
Jorge CALVILLO Founding Partner and CEO VIG WORLD
Interview
Angola - July 08, 2021

Jorge Calvillo, founding partner and CEO of VIG World, talks to The Energy Year about the company’s strategy in the Angolan market and how the IMO 2020 sulphur…

READ MORE
David Parker Angola Ocean Atlantic PEtroleum
Interview
Angola - July 05, 2021

David Parker, business and operations director for Ocean Atlantic Petroleum (OAP), talks to The Energy Year about the company’s work in refurbishment, maintenance and…

READ MORE
Domingos Augusto Sonamet angola
Interview
Angola - July 01, 2021

Domingos Augusto, general manager of Sonamet, talks to The Energy Year about the company’s strategy for maintaining capacity and competing in a challenging market and…

READ MORE
Kapassui CANUNGUE Managing Director for Angola ALTRAD - PREZIOSO
INTERVIEW
Angola - June 28, 2021

Kapassui Canungue, ALTRAD - Prezioso’s managing director for Angola, talks to The Energy Year about competition in Angola’s oilfield services…

READ MORE
Ricardo DO AMARAL General Manager OCTOMAR
INTERVIEW
Angola - June 17, 2021

Ricardo Do Amaral, general manager of Octomar, talks to The Energy Year about the importance of developing a local workforce and the latest on the…

READ MORE
ANGOIL BUMI JV Gleave
INTERVIEW
Angola - June 15, 2021

David Anthony Gleave, general manager of Angoil Bumi JV (ABJV), talks to The Energy Year about the company’s approach to FPSO operations and…

READ MORE
Camilo GOMES General Manager ALFORT PETROLEUM
INTERVIEW
Angola - June 8, 2021

Camilo Gomes, general manager of Alfort Petroleum, talks to The Energy Year about the company’s strategy for Angola’s 2020 bid round and the key…

READ MORE
POLIEDRO OIL CORPORATION Tchitalene DE ALMEIDA
INTERVIEW
Angola - June 1, 2021

Tchitalene de Almeida, executive director of Poliedro Oil Corporation, talks to The Energy Year about the latest developments and future prospects…

READ MORE

 

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.