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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 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

Yinson enters FPSO agreement in Angola
Angola - December 05, 2022

Yinson Holdings has signed an agreement for the provision of an FPSO for the Agogo Integrated West Hub Development in Angola,…

Angola's Luanda Refinery expands
Angola - November 18, 2022

Angola’s sole refinery has undergone a deep refurbishment to meet the country’s goals of becoming less dependent on imports…

Angola closes in on its 2022 electrification targets
Angola - November 16, 2022

Under demographic and economic pressures, Angola is working to expand its electricity coverage with the aim of nearly doubling…

Angola’s new permanent offer regime
Angola - November 11, 2022

Angola’s National Oil, Gas and Biofuels Agency (ANPG) is making a new effort to unlock the country’s hydrocarbons potential by…


Angola maps

Licence Areas Angola 2021

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