The UAE’s AD Ports Group signed a concession agreement to operate and upgrade Angola’s Luanda port.
READ MOREAngola’s oil and gas industry and companies
Diamantino Pedro AZEVEDO
MINISTER OF MINERAL RESOURCES, PETROLEUM AND GAS
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
Azule Energy and Rhino Resources will enter a strategic farm-in agreement for Block 2914A in Namibia.
READ MOREBilly Lacobie of CABGOC talks about developments in blocks 0 and 14 and the launch of the Lifua A platform.
READ MOREAngola reports
More reportsAngola is working hard to increase its power generation capacity by boosting hydro and solar energy.
READ MOREDomingos Augusto of Sonamet talks about how the company will successfully deliver on the Agogo project.
READ MOREAngola has approved Afentra’s acquisition of interest in two offshore blocks from Azule Energy.
READ MOREManuel António Tiago Dias of the National Bank of Angola talks about Angola’s economic expectations for 2024.
READ MOREJean Yves Lunot of AGL Angola talks about the company's investments in Lobito’s multipurpose terminal.
READ MOREDr Frecissimo Sarmento of ChampionX Químicos talks about the company's expansion in Angola.
READ MOREJoão Teiga of OREYAFRICA talks about the company’s initiatives in the energy sector and Angolan logistics.
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