Back toour markets

Angola’s oil and gas industry and companies

Angola

Angola’s oil and gas industry in figures

Oil reserves7.8 billion barrels

Oil production1.32 million bopd

Gas reserves301 bcm

Annual gas production11.3 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’s oil and gas companies content

Tailor-made financial solutions in Angola Banco Comercial do Huambo BCH Natalino LAVRADOR
Interview
Angola - July 04, 2022

Natalino Lavrador, president of the administrative council of Banco Comercial do Huambo (BCH), talks to The Energy Year about…

READ MORE
InterOil sees enormous potential in Angola Charly CADALEN
Interview
Angola - June 30, 2022

Charly Cadalen, general manager of InterOil Angola, talks to The Energy Year about the maturity of Angola’s oil and gas…

READ MORE
CMS Portugal advises on $1.99-billion Angola solar deal
NEWS
Angola - June 30, 2022

CMS Portugal and its Angolan associated law firm LBR Advogados advised on Sun Africa’s landmark USD 1.99-billion solar and water…

READ MORE
Deloitte facilitates business in Angola Frederico Martins CORREIA
Interview
Angola - June 28, 2022

Frederico Martins Correia, energy, resources and industrials partner at Deloitte, talks to The Energy Year about trends in the…

READ MORE

Angola maps

Licence Areas Angola 2021

    ALL MAPS
    Cabinda Refinery set to transform Angola’s downstream
    Articles
    Angola - June 24, 2022

    Angola has long been an oil producing nation. However, the country has been slow to develop its refining capacity. This is set…

    READ MORE
    Critical protection for Angolas electricity grid APROT Alexandre FAJARDO
    Interview
    Angola - June 23, 2022

    Alexandre Fajardo, managing partner of APROT Engenharia, talks to The Energy Year about the company’s work in developing…

    READ MORE
    Articles
    Angola - June 17, 2022

    Somoil, Angola’s largest private oil company, has doubled its production in two years. “I believe Somoil is the ideal partner for any company entering the oil and gas…

    READ MORE

     

    WHOSE PLATFORM IS THIS?
    ASK US

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