On Wednesday, Eni announced output was underway through the Armada Olombendo FPSO, marking the start of production from the East Hub project ahead of schedule.…
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.
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READ MOREAngola reports
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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 MOREOn Tuesday, days after Angola’s long-serving president José Eduardo dos Santos announced that he would stand down this summer, rebels called for the oil-rich Cabinda…
READ MORETOGY talks to Pedro Godinho, the president of Aker Solutions Enterprises (Aksel), about the direction oil prices are moving and the impact of production cuts as well as…
READ MOREAngolan President José Eduardo dos Santos said on Friday that he will not run in the next election scheduled for August, effectively stepping down after 37 years in…
READ MORETOGY talks to José Severino, the president of the Industrial Association of Angola (AIA), about the state of the local business environment, investment and the new…
READ MORETOGY talks to Sylvain Itté, French Ambassador to Angola, about the strong economic and cultural ties between the two countries, and his hopes for Angola’s continued…
READ MOREThe head of Angolan sovereign wealth fund FSDEA on Tuesday revealed that the Export-Import Bank of China will lend the country USD 600 million for the construction of a…
READ MOREUK engine maker Rolls-Royce has made deals with the UK Serious Fraud Office (SFO) and the US Department of Justice (DoJ) as part of the investigation into oil and gas…
READ MORETOGY talks to Graeme Taylor, Vice President for Angola at Halliburton, about forecasted stabilisation, onshore potential and the qualities required of a new entrant to…
READ MORETOGY talks to Darryl Willis, regional president of BP Angola, about the challenges in the current market environment, the restructuring of Sonangol and Angola’s…
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