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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

Angola’s Azule Energy awards Saipem $850-million contract
NEWS
Angola - May 17, 2024

Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy.

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Catering excellence in Angolan oil and gas TEY_post_Francois-TACK
Interview
Angola - May 16, 2024

François Tack of Newrest Angola talks about the company’s portfolio and growth opportunities in oil and gas.

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ExxonMobil makes deepwater discovery off Angola
NEWS
Angola - May 15, 2024

ExxonMobil has made a discovery in Block 15 in the Angolan deepwater.

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Diversified insurance for Angola TEY_post_Carlos-FIRME
Interview
Angola - May 13, 2024

Carlos Firme of Fortaleza Seguros talks about the role of the company in the Angolan insurance sector.

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Siemens Energy’s ambitions in Angola’s power sector TEY_post_Thabo-MOLEKOA
Interview
Angola - May 08, 2024

Thabo Molekoa of Siemens Energy talks about how the company aims to assist Angola’s power sector.

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A logistics specialist delivering for Angola’s IOCs TEY_post_Erwin-KRUECK
Interview
Angola - May 06, 2024

Erwin Krueck of All Brokerage Solutions talks about Angola’s prospects as a logistics hub.

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