The Secretary of State for Mineral Resources said Friday 14th April in Luanda that the adoption of a governance model for the mining sector, based on institutions such as the Geological Institute, the National Agency for Mineral Resources and state companies (Endiama and Sodiame) with the structure to lead the activity, are some of the pillars needed to transform the country’s resource potential into real wealth, in favor of improving the living conditions of the
The balance of direct investment in 2022 was a deficit of US$6.1 billion, against US$3.2 billion in the previous year, justified mainly by the increase in investments recovered by companies in the oil sector. Since 2015, new investments in the oil sector have been lower than recovered investments. The United States of America, France and Italy were the countries that stood out in terms of the origin of foreign direct investment destined for the oil sector.
The Yetwene Project, an alluvial diamond mine with an extension of 508 square kilometers, located in Lukapa, Lunda-Norte, will begin operating in the coming days, with a production of around 10,000 carats per month, announced Friday 14th April the Chairman of the Board of Directors of Endiama, José Ganga Júnior. With an investment in the prospecting phase of around US$25 million, the project generated a total of 500 jobs. With a 20 percent stake in Endiama, the mine
The National Diamond Company of Angola is evaluating a proposal aimed at installing, in the near future, simulators for training mining operators at the ENDIAMA Technical-Professional Training Centre, located in Saurimo, Lunda Sul. The information was provided, Monday 10th April, in Luanda, by the director of Studies and Projects at the company, Ady Van-Dúnem. The person in charge made it known that the aforementioned equipment allows technicians who will operate an excavator or a bulldozer machine to
Botswana may not renew a five-decade sales agreement with De Beers if the diamond producer doesn’t offer a larger share of rough diamonds to the state’s gem trading company, Okavango Diamond Company (ODC). The move comes after the southern Africa nation acquired last month a 24% stake in Belgian diamond processing firm HB Antwerp for an undisclosed sum. Analysts saw this deal as a way for Botswana to loosen the Anglo American-owned miner’s grip on its diamond
Amidst the global pivot towards an energy transition, African nations are seizing this transformative moment to create new and exciting pathways for women to thrive in the energy sector. Kátia Epalanga, Executive Director of Angola’s National Oil Company (NOC), Sonangol, attended a webinar held by the African Energy Chamber’s African Women Business Energy Network (AWBEN), alongside other influential women in the energy sector to address the critical issue of diversity and inclusivity in the industry
Angola started producing oil from the Benfica oilfield in the Cuanza Basin in 1955. Nearly 70 years on, the country has risen to become one of the biggest producers and exporters in Africa, with production hitting an all-time high of two million barrels per day (bpd) in 2010. However, in 2023, production has started to wane as declines in legacy fields continue to reduce national output. In 2023, production averages just above one million bpd, and with
Independent oil and gas producer Azule Energy has selected industrial software company AVEVA as its new digital partner, with the firm tasked with improving efficiency and productivity across Azule’s Angolan assets through the deployment of state-of-the-art technology. According to Peter Harriman, COO of Azule Energy, “We have signed a strategic contract with AVEVA to digitally transform our operations for optimized productivity, efficiency and safety. This partnership will enable Azule Energy to achieve our goal of establishing a world-class
With crude oil production on the rise – increasing by more than 580,000 barrels month-on-month from December 2022 to January 2023 – Angola is aiming to stabilize its output around 1.3 million barrels per day (bpd) in the next three years. Accordingly, the southern African producer has several notable E&P projects that are in progress and awaiting Final Investment Decision (FID), which will serve to maximize its existing hydrocarbon resources, optimize existing facilities and subsea infrastructure and enable cost
Angola is home to significant upstream potential, as demonstrated by the sharp contrast between its proven and estimated reserves: 9 billion versus 57 billion barrels of oil and 11 trillion versus 27 trillion cubic feet of natural gas. Its three major basins – Kwanza-Benguela, Namibe and Lower Congo – hold development opportunities across each stage of the exploration life-cycle, from frontier exploration to mature producing areas. As oil and gas explorers seek prospects with lower
