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Angola’s oil and gas industry and companies

Diamantino Pedro AZEVEDO

Minister of Mineral Resources, Petroleum and Gas

This new dynamism is the result of the restructuring of the Angolan oil sector.
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Angola’s oil and gas industry in figures

Oil reserves7.8 billion barrels

Oil production1.15 million bopd

Gas reserves301 bcm

Annual gas production11.3 bcm

Angola's oil and gas industry: Africa's Rising Giant

Angola’s oil and gas industry has grown significantly, with the country now one of the top oil producers on the African continent. The sector is governed by the National Oil, Gas and Biofuels Agency (ANPG), which handles handing out concessions and regulating policy related to Angola’s upstream activities. The state-owned enterprise Sonangol and its subsidiaries have been the main driver behind the nation’s E&P activities and have ramped up exploration activities to replace the country’s depleting reserves.

The country is developing its refining capacity, which traditionally only represented around 20% of the country’s consumption. The downstream sector is undergoing a massive transformation, with large developments to increase production of oil refined products underway.

The country, which is a member of OPEC, has repeatedly reformed its policies with a focus on attracting foreign investment to unlock its massive energy potential. “To increase efficiency and strengthen the oil activity, we are implementing several measures in such a way as to create conditions and an environment able to capture new investment that seeks to contribute to the increase of reserves and the production of oil and gas, and consequently bring more value to the Angolan State and to its involved partners,” Angolan Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo told The Energy Year.

Angola’s oil and gas companies content

Chevron begins look for buyers for Congo assets
Republic of Congo - May 25, 2023

Chevron has begun the sale process for its oil and gas assets in the Republic of Congo, Reuters reported on Thursday.

Angola moves on offshore Kwanza Basin oil and gas project
Angola - May 03, 2023

Angola has signed a heads of agreement with TotalEnergies to develop the offshore Cameia and Golfinho fields in the Kwanza…

Baker Hughes eyes new exploration and decarbonisation in Angola Valter-ESCORCIO
Angola - April 05, 2023

Valter Escorcio, country director for Baker Hughes in Angola, talks to The Energy Year about Angola’s upstream recovery, key…

Saipem signs offshore contracts worth $650 mln
Italy - April 03, 2023

Saipem has been awarded five new EPCI and FEED contracts worth around USD 650 million for offshore work in Angola, Trinidad and…


Angola maps

Angola Blocks Open to Negotiation 2023

Oman - March 28, 2023

Subramanian Shanmugam, general manager of Composite Pipes Industry (CPI), talks to The Energy Year about how the company is…

African producers poised as Europe seeks alternate supplies Alberto-GALHARDO-SIMÕES
Angola - March 17, 2023

Alberto Galhardo Simões, partner and head of the Lusophone Africa practice at CMS Portugal, talks to The Energy Year about the…




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