Halliburton agreed to pay USD 29.2 million to settle civil charges related violations of the Foreign Corrupt Practices Act (FCPA) in its Angola operations, the US…
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
Jean Yves Lunot of AGL Angola talks about the company's investments in Lobito’s multipurpose terminal.
READ MOREFrecissimo Sarmento of ChampionX Químicos talks about the company's expansion in Angola.
READ MOREAngola reports
More reportsJoão Teiga of OREYAFRICA talks about the company’s initiatives in the energy sector and Angolan logistics.
READ MORECándido Norberto of FN Lifting talks about Angolanisation and the company's scope in Angolan oil and gas.
READ MOREJacinto Rocha of the National Mineral Resources Agency talks about investment in Angola’s mining sector.
READ MORECorreia Vicente Pongolola of CVP Advogados talks about the company’s role in Angola’s energy sector.
READ MORE-
A new era for the Lobito terminal
INTERVIEW
Most popular
BP has decided to let go of its 50% shareholding in Block 24/11 offshore Angola, the company announced on Friday.
According to BP, the asset was deemed not…
READ MOREPeter Ghany, managing director of ESAU Oilfield Supplies, talks to TOGY about the the ways plants are compensating for curtailments in gas supply in Trinidad and…
READ MOREJorge de Abreu, the executive administrator of Sonangol, talks to TOGY about the onshore bid round and the importance of communication with investors. The Angolan NOC…
READ MORESonangol announced the cancellation of its onshore bid round Wednesday, citing the change in market conditions since the round was launched in 2014.
Sonangol said…
READ MOREPetrofac on Friday said it had received a notice from the UK’s Serious Fraud Office (SFO) that it was under investigation.
In a brief press release, Petrofac said…
READ MOREGE announced on May 2 that Angola’s AE Energia had ordered seven TM2500 mobile aeroderivative gas turbine generator sets for state-owned power production company…
READ MOREEngineering services provider Lloyd’s Register on Monday announced it had won an inspection contract for Bumi Armada’s Armada Olombendo FPSO, working offshore…
READ MORETOGY talks to Paul Horsnell, head of commodities research at Standard Chartered Bank, about OPEC, oil prices and the USA’s energy policy. The bank provides advisory,…
READ MOREAngola will soon approve a package of legislation designed to increase local content in the country’s oil and gas industry, Petroleum Minister José Maria Botelho de…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.