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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

A market full of growth opportunities TEY_post_Francisco-MONTEIRO
Interview
Angola - March 04, 2024

Francisco Monteiro of BRIMONT talks about the company’s investment in Angola’s manufacturing capacity.

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Project highlight_Angola's New Gas Consortium
Articles
Angola - February 28, 2024

Angola’s first non-associated gas project is designed to maintain the country's relevance during the energy transition.

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Africa’s most interconnected company TEY_post_Angelo-GAMA
Interview
Angola - February 28, 2024

Ângelo Gama of Angola Cables talks about the company’s role as a pioneering interconnected player in Angola.

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InterOil’s expanding oil and gas service offering in Angola TEY_post_-Charly-CADALEN
Interview
Angola - February 26, 2024

Charly Cadalen of InterOil Angola talks about the company’s evolving portfolio of services in Angola.

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An Angolan innovator in training services TEY_post_Gourgel-NETO
Interview
Angola - February 21, 2024

Gourgel Neto of Resilience 360 talks about the importance of private offshore training initiatives in Angola.

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A promising upstream landscape in Angola TEY_post_Alfredo-FORTUNATO
Interview
Angola - February 19, 2024

Alfredo Fortunato of Certex Angola talks about how Angola’s upstream activity has impacted operations.

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New details on Sonangol split
NEWS
Angola - December 20, 2016

Sonangol head Isabel dos Santos has said the NOC would be divided into three units, exploration and production, logistics and a division to manage concessions to…

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Eni FPSO arrives in Angolan waters
NEWS
Angola - December 12, 2016

Eni’s newest floating production, storage and offloading (FPSO) vessel arrived in Angolan waters on Friday, TOGY learned over the weekend. Destined for operations in…

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Chevron least exposed to OPEC cuts
NEWS
December 07, 2016

Among the word’s major oil companies, Chevron has the smallest share of production in the countries that have said they would reduce production, data from Norwegian…

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Angola drives November OPEC output
NEWS
Angola - December 06, 2016

OPEC production hit 34.19 million bopd in November, a survey has shown. The results released on Monday reveal the biggest month-on-month increase was recorded in…

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Egidio Monteiro DHL Angola
Interview
Angola - November 30, 2016

TOGY talks to Egidio Monteiro, managing director of DHL Express Angola, about the challenges they face, how oil and gas companies can go further to reduce their…

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Sonangol calls for moratorium on debts
NEWS
Angola - November 24, 2016

Angola’s Sonangol has reportedly requested a moratorium on debts until year-end 2016, local sources were quoted as saying on Wednesday.

The all-powerful state…

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Interview
Angola - November 23, 2016

TOGY talks to Domingos Freitas, country director of Angola for Weatherford, about Weatherford’s Angolan operations, the challenges in the market and the prospects for…

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Mafumeira Sul oil production starts
NEWS
Angola - November 11, 2016

Sonangol and partners Chevron, Total and Eni began production in the Mafumeira Sul oilfield located some 24 kilometres offshore Angola’s Cabinda province, the NOC…

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Angolan president faces inquiry
NEWS
Angola - October 26, 2016

José Eduardo dos Santos, Angola’s president since 1979, is facing an inquiry by the country’s Supreme Court over the appointment of his daughter as head of state…

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