Angola is set to launch its next round of oil and gas concession licensing in 2025, inviting exploration and production companies from the United States, announced José Barroso, the Secretary of State for the portfolio, during an event in Houston on Tuesday. The country concluded bidding for 12 blocks earlier this year as part of a six-year licensing round initiated in 2019 and is finalizing production sharing negotiations. Speaking at a networking event organized by
Integrated energy company Galp – alongside partners the National Petroleum Corporation of Namibia (NAMCOR) and Custos Energy – has successfully drilled the Mopane-2X well in PEL 83, leading to another light oil discovery in Namibia’s Orange Basin. The discovery comes as part of Galp’s ongoing exploration campaign that began last November and targets the Mopane complex covering Blocks 2813A and 2814B. Last January, the company announced a light oil discovery – Mopane-1X – which indicated preliminary signs
Mozambique’s natural gas sales reached $1.7 billion in revenue in 2023 – according to statistical reports from the Bank of Mozambique – marking an increase of 218% compared to the previous year. The increase was driven by the operational start-up of the Coral Sul floating LNG (FLNG) plant in the Area 4 Block in the offshore Rovuma Basin, which delivered first LNG cargo in November 2022. The Area 4 Block is operated by Mozambique Rovuma
Construction of the Mbanza Kongo Airport in Angola’s province of Zaire is set to be complete in 2025, the country’s Minister of Transport Ricardo de Abreu announced. The airport will host domestic and international airline carriers, supporting tourism in the province. Developed by engineering and construction services companies Sinohydro Corporation, the 12,100 m² site features a 3,500 m runway capable of handling a Boeing 777-300ER – one of the world’s largest commercial twin-engine carriers. At
Angola is gearing up to launch its next oil and gas licensing round in 2025, inviting US-based exploration and production companies to seize upcoming block opportunities. As part of a six-year licensing initiative initiated in 2019, the country recently concluded a 12-block tender in January 2024 and is currently finalizing negotiations for production sharing. During a networking event hosted by Angola Oil & Gas (AOG) 2024 in Houston on March 19, Secretary of State for
Zanzibar is set to inaugurate its first-ever licensing round on Wednesday, inviting international oil and gas companies to participate in exploration and production activities. The announcement, made by the Ministry of Blue Economy and Fisheries of Zanzibar, comes after the demarcation of eight offshore blocks in the region. Seeking to diversify its economy, Zanzibar aims to attract foreign investment into its hydrocarbon sector. To facilitate this, the semi-autonomous region has implemented a revamped Model Production
Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), held a meeting with Francoise Joly, Presidential Adviser for International Strategy of the Republic of Congo, to explore opportunities for cooperation across the oil and gas sector. During the discussion, Najaf and Joly explored potential collaboration avenues, including oil and oil-based products trading, human capital development, and other mutual interests. The officials also delved into Azerbaijan’s global energy projects, SOCAR’s multinational operations, and potential
Italian multinational energy company Eni has successfully concluded a $300 million deal for the sale of select upstream assets to oil and gas firm Perenco in the Republic of Congo. The agreement, initially announced in June 2023, aligns with Eni’s strategic objective of optimizing its operations and concentrating on significant upstream projects within the country. In a press release, Eni emphasized its dedication to harnessing the Republic of Congo’s extensive gas resources, particularly through initiatives
Mozambique’s council of ministers has approved a decree establishing legislation for a sovereign wealth fund. The fund will be tasked with managing revenues from an estimated $91.7 billion in natural gas exports in the coming decades. Under the new law, 40% of liquefied natural gas revenues will finance the fund during its first 15 years, with the remaining portion allocated to the national budget. Subsequently, a balanced allocation between savings and expenditures will be implemented.“The
The Ozango Minerais project, focusing on the exploration of rare earth minerals in Longonjo, Huambo, is advancing into the construction and equipment installation phase, with operations expected to commence in 2026. Tim George, head of an investor mission, made this announcement following a meeting with Huambo’s vice-governor for the Political, Economic, and Social sector, Angelino Elavoco. George stated that work on the mine, situated 64 kilometers from Huambo city, is scheduled to begin eight months
