Marc Courtemanche, the country president of Statoil, talks to TOGY about curbing the decline of oil production in Angola, the legal framework surrounding the industry…
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 MOREEni has signed a deal with <a href='https://staging.theenergyyear.com/companies-institutions/sonangol/’>Sonangol to operate the Cabinda North block onshore…
READ MOREThe Association of Service Providers of the Angolan Oil & Gas Industry (AECIPA) signed a partnership agreement with TOGY on Thursday to support TOGY’s reporting on…
READ MOREAntonio Coutinho, the CEO of Standard Bank, talks to TOGY about the business climate in Angola, lifting costs and restructuring at Sonangol. Operating in Angola since…
READ MOREThe Angolan oil minister has said the country will create a national petroleum agency, local media reported over the weekend.
Minister of Mineral Resources and…
READ MOREAngolan President João Lourenço has removed Isabel dos Santos from her post as head of Sonangol, local media reported Wednesday.
President Lourenço has…
READ MORERicardo Santos, PwC’s country senior partner in Angola, talks to TOGY about efficiency, production cost reduction and the ongoing reforms at Sonangol.
In November…
The International Monetary Fund (IMF) is helping Angola to normalise access to international money markets for local banks, international media reported…
READ MORETwo former SBM Offshore employees pled guilty to conspiracy for their role in bribing foreign government officials, according to a US Department of Justice statement…
READ MOREMiguel Dias Correia, the CEO of ISQapave, talks to TOGY about the glut of oil production worldwide, the outlook for the business climate in Angola and future investment…
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