Less than a month after revising its 2015 budget and cutting planned spending by several billion, Angola has now turned to international lenders and the World Bank in…
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
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy.
READ MOREFrançois Tack of Newrest Angola talks about the company’s portfolio and growth opportunities in oil and gas.
READ MOREAngola reports
More reportsExxonMobil has made a discovery in Block 15 in the Angolan deepwater.
READ MORECarlos Firme of Fortaleza Seguros talks about the role of the company in the Angolan insurance sector.
READ MOREThabo Molekoa of Siemens Energy talks about how the company aims to assist Angola’s power sector.
READ MOREErwin Krueck of All Brokerage Solutions talks about Angola’s prospects as a logistics hub.
READ MORESpeaking at the Offshore West Africa 2015 conference on Wednesday, group managing director of the Nigerian National Petroleum Corporation Joseph Dawha said that…
READ MOREIn the second quarter of 2014, Aker Solutions Congo, the local subsidiary of the Norwegian oilfield services company, started the delivery of 28 newly developed…
READ MOREThe latest in a string of technical difficulties, a pipe rupture on a flare line at Angola’s new $10-billion LNG plant forced a shutdown that is expected to last…
READ MOREIn April 2014, a consortium of France’s Technip and the Netherlands’ Heerema Marine Contractors won a $3.5-billion engineering, procurement, construction,…
READ MOREStatoil last week announced that it would sell its 5-percent share in the Eni-operated block 15/06 to Angolan national oil company <a…
READ MOREDuring an official visit to Angola last week, Tanzanian President Jakaya Kikwete announced the beginning of bi-lateral co-operation between the two nations across the…
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