The Board of Sonangol expects to improve the company’s financial situation due to the entry into production, after several years of inactivity, of the oil field “Caco-Gazela Punja 3/05”, located in the Lower Congo Basin, with a production capacity of 2,000 barrels per day. The project is carried out by Sonangol, as operator, with a 25 percent stake, in a consortium in which China Sonangol Internacional also owns 25 percent, Maurel & Prom, 20 percent, Eni 12
Angola intends to stabilize production at around 1.3 million barrels per day (bpd) over the next three years, according to research by the African energy consultant. According to the consultant, the country has a crude oil production on the rise – increasing by more than 580,000 barrels per month, from December 2022 to January 2023. The source ensures that the southern African producer has several notable Exploration and Research (E&P) projects that are in progress
The National Oil, Gas and Biofuels Agency (ANPG) is funding a health project with US$300,000, which will cover the whole country as part of its social responsibility activity. According to the Executive Director, Gerson Santos, investment in projects of a social nature should be seen as the socially responsible contribution of the oil sector to improving the living conditions of the population, through the synergies created between the Executive bodies, the companies and civil society
Australian oil and gas exploration company Invictus Energy has announced the discovery of light oil, gas condensate and helium at its Cabora Bassa project, located in the northern province of Zimbabwe. The discovery follows the analysis of mud gas collected from the drilling of the Mukuyu-1 well in late 2022, which identified 13 hydrocarbon bearing zones. “Results from the mud gas compositional analysis definitely proves the presence of hydrocarbons in multiple reservoir pay zones
On the 19th of this month, in Luanda, the Angolan National Diamond Trading Company (SODIAM EP) holds an electronic auction for the sale of 36 “special” diamond stones, open to registered national and foreign buyers. The viewing sessions will take place from today the 8th to the 18th, at the headquarters of Sodiam EP, in the country’s capital, and the bidding process, which will only be done electronically, closes the 10 am on the aforementioned
Sonangol signed, in the last 12 months, contracts with national and foreign companies to increase exploration and production, both in mature and emerging basins. According to a note from Energy Capital & Power that Jornal de Angola had access to, the aforementioned contracts were signed to make the country a regional energy centre, although it is already one of the largest oil producers in Africa. Companies such as Azule Energy (the largest independent oil and
The world’s largest diamond, discovered in South Africa in 1905, was given to the British monarchy two years later and has been in its possession since. Some South Africans are calling for the United Kingdom to return the world’s largest diamond, known as the Star of Africa, which is set in the royal sceptre that King Charles III will hold at his coronation on Saturday. The diamond, which weighs 530 carats, was discovered in South
Impact Oil & Gas, a privately-owned exploration company, has announced the completion of a $95-million Open Offer, raising capital exclusively from its existing shareholders. The capital will be used to further appraise TotalEnergies’ Venus-1 discovery located in Block 2913B in the Orange Basin, as well as fund additional exploration activity in neighboring Block 2912. “We are pleased to see the $95-million open offer’s successful completion, having been fully taken up by our existing shareholders, who
Angola’s Minister of Economy and Planning, H.E. Mário Caetano João, has indicated that the southern African country is forecasting economic growth of 3% in 2023, with an increase to an average of over 3.6% between 2023 and 2027. Announced on 26 April, the Minister highlighted that economic growth in Angola will be driven primarily by the country’s oil sector. Oil sector growth during the forecast period is expected to average 1%, while non-oil growth is poised to
The National Oil, Gas and Biofuel Agency (ANPG), Total Energies EP Angola and Sonangol Pesquisa e Produção signed, this Tuesday 2nd May, in Luanda, an agreement of principles that makes it possible to make the first development project in the Kwanza Basin feasible. , in Blocks 20 and 21. Valued at around US$5 billion, the development project for the Kwanza Basin, located around 150 kilometers southwest of Luanda, will comprise a floating FPSO-type platform, the
