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Angola’s oil and gas industry and companies

Angola

Angola’s oil and gas industry in figures

Oil reserves8.2 billion barrels

Oil production1.42 million bopd

Gas reserves422 bcm

Annual gas production3.02 bcm

Angola: Africa's Rising Giant

President João Lourenço has been reinvigorating the Angolan economy with long-awaited reforms, and the hydrocarbons industry, the anchor of the Angolan market, has been revitalised by his policies. The new National Oil, Gas and Biofuels Agency (ANPG) has replaced the NOC as the concessionaire, increasing investor confidence with an unbiased regulator. At Sonangol, the Regeneration Program is refocusing the NOC’s activities on the petroleum industry, with widespread asset divestment.

Holding steady as Africa’s second-largest oil producer, Angola is aiming to stimulate upstream investment with new incentives for marginal field development and exploration work. In 2019, Total’s Kaombo project saw its second FPSO come on stream in Block 32, and  Eni made its fifth commercial discovery in a year in Block 15/06. The ANPG is set to auction an additional 55 oil and gas blocks through 2025 with the aim of replacing the country’s reserves.

While the sub-Saharan country was hit hard by the oil price drop, the government’s economic and investment reforms received the endorsement of the IMF in the form of a USD 3.7-billion financing programme in December 2018. Meanwhile, Angola continues to strive to balance the need for foreign investment with the demand for local content. In October 2020, a presidential decree to support local content was published.

A new push to increase local refining capacity and electrification is boosting the downstream sector. Sonangol plans to construct two refineries – one in Cabinda and the other in Lobito – to help meet rising demand. The government plans to double the country’s installed power capacity by 2022 and reach 60% electrification by 2025.

The Oil & Gas Year Angola 2019 was produced in partnership with the Ministry of Mineral Resources and Petroleum, the ANPG, PwC, AmCham Angola, and the Association of Service Providers of the Angolan Oil & Gas Industry. The Energy Year Angola 2021 is currently in production.

Angola’s oil and gas companies content

Saudi Aramco inks $15.5-billion pipeline deal
NEWS
Saudi Arabia - May 12, 2022

Saudi Aramco has made a USD 15.5-billion deal with a consortium led by Black Rock Real Assets and Hassana Investment Company for…

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Cabship Angola
Articles
Angola - May 03, 2022

An Angolan leader in oil and gas logistics services, Cabinda Shipping Services (Cabship) offers shipping services for liner and…

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Angola reports

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Hayssam-FAKHRY - The Energy Year
Interview
Ghana - December 14, 2021

Hayssam Fakhry, managing director of Interplast, talks to The Energy Year about the company’s central role in Ghana’s…

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Chevron extends offshore Angola licence to 2050
NEWS
Angola - December 09, 2021

Cabinda Gulf Oil Company (CABGOC), the Angolan affiliate of Chevron, has signed a deal to extend its Block 0 offshore licence by…

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Angola maps

Licence Areas Angola 2021

    ALL MAPS
    TotalEnergies starts up CLOV phase 2 off Angola
    NEWS
    Angola - December 06, 2021

    TotalEnergies has launched production at Phase 2 of its deepwater CLOV project off the coast of Angola, with plans to reach…

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    bp Angola starts up Platina oilfield
    NEWS
    Angola - November 26, 2021

    bp Angola has started production at the Platina deepwater oilfield offshore Angola.

    The development – a tie-back to…

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    Felix Nana SACKEY Group CEO IBISTEK
    Interview
    Ghana - November 11, 2021

    Felix Nana Sackey, group CEO of Ibistek, talks to The Energy Year about the operational advantages of the company’s new liquid bulk terminal (LBT) in Takoradi and its…

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