The Angolan government announced it would launch a new agency to handle block sales, international media reported Thursday.
The new National Agency of Petroleum and…
READ MOREDiamantino Pedro AZEVEDO
MINISTER OF MINERAL RESOURCES, PETROLEUM AND GAS
Oil reserves7.8 billion barrels
Oil production1.15 million bopd
Gas reserves301 bcm
Annual gas production11.3 bcm
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.
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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READ MORECarlos Firme of Fortaleza Seguros talks about the role of the company in the Angolan insurance sector.
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READ MOREThe Angolan government announced it would launch a new agency to handle block sales, international media reported Thursday.
The new National Agency of Petroleum and…
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READ MOREThe Republic of Congo and Angola have announced plans to raise production from the Lianzi field by 16,000 bopd, local media reported over the weekend.
The…
READ MORESonangol has signed an MoU with Heliconia and CHC to restructure SonAir, the Angolan NOC announced Thursday.
The agreement has two phases. The first covers a full…
READ MOREIsabel dos Santos, the daughter of former Angolan President José Eduardo dos Santos and ex-head of Sonangol, failed to appear after a summons from state prosecutors,…
READ MOREThe deep offshore Kaombo project has successfully begun production, Total announced on Friday.
The 115,000-bopd Kaombo Norte FPSO has been brought on stream, and…
READ MOREThe government of Angola has announced plans to double the country’s installed power capacity by 2022, local media reported Tuesday.
As part of the 2018-2022…
READ MOREAngolan NOC Sonangol is planning to sell off assets to refocus on its core activity, local media reported Monday.
The statement came in response to reports the NOC…
READ MOREAngolan NOC Sonangol has extended the deadline for bids on blocks 20/11 and 21/09, local media reported Monday.
“The deadline for the delivery of binding bids for…
READ MOREFernando Vilhena e Mascarenhas, the management and risk consulting partner of KPMG Angola, talks to TOGY about the state and outlook of the Angolan economy, the new…
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