The diamond miner, De Beers, reported provisional rough diamond sales of $370 million in its initial sales cycle for the current year. Although this figure was lower than the $454 million recorded in the first sales cycle of 2023, it marked an improvement from the $137 million in sales documented in the tenth sales cycle of the same year. De Beers CEO Al Cook commented on the sales performance, stating, “Solid consumer demand for diamonds
Uganda is staking its future on the development of its oil and gas resources, unveiling a dual strategy that involves tapping into hydrocarbon wealth while concurrently implementing an energy transition plan financed by the profits generated from these resources. According to Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, the country anticipates a significant economic boost over the next 25 years, with oil and gas revenues injecting $8.6 billion into Uganda’s GDP as
As the 2023 U.N. Climate Change Conference, the 28th Conference of Parties (COP28) in Dubai drew to a close, the air was thick with determination among the 200 delegates. Acknowledging that the era of fossil fuels was on its last legs, they collectively pledged to hasten its demise. This was heralded as “the beginning of the end” for coal, oil, and natural gas. The nails and hammers were poised to pound the coffin of a
Across the entire oil and gas value chain, both local and international service providers stand the chance to not only contribute to but drive the growth of Angola’s oil and gas industry. From detailed engineering services to procurement of equipment to technical construction activities, development opportunities are abundant. Supporting Successful Upstream Projects Angola’s upstream oil and gas sector is poised for growth on the back of major new hydrocarbons discoveries in the country’s ultra-deepwater offshore acreages.
Construction engineering company, Mecwide, has completed construction of a gas reception and distribution unit for the Falcão 2 Project in Zaire Province, Angola. With a price-tag of $46 million, the unit will handle approximately 50 million cubic feet of gas per day. Announced on 23 January, the gas reception and distribution unit serves as Mecwide’s largest project in Angola. Development activities for the project included detailed engineering, procurement of piping and equipment, pre-fabrication and assembly,
The Floating Storage and Offloading Unit (FPSO) Kaombo Sul by TotalEnergies, located in Block 32 of the national offshore, has reached the milestone of 200 million barrels of oil produced since its commencement of operations in April 2019. The Kaombo project consists of 6 fields spread over an area of 800 square kilometers. According to a document from the institution accessed by the Jornal de Angola, this achievement was only possible due to the work
On the 17th of January, 2024 the English-Australian mining giant, Rio Tinto signed a mining investment contract with the Angolan Ministry of Mineral Resources, Oil and Gas in Luanda. The $5.7 million USD deal will grant Rio Tinto a 35-year exploratory license for the Moxico Concession. According to the company’s website, the exploration will primarily be seeking base metals such as copper, zinc, cobalt and titanium. The contract calls for an initial 5 years of
Boasting abundant natural gas resources and immense potential in human capital, Africa is currently witnessing the development of several large Liquefied Natural Gas (LNG) projects. These upcoming ventures are expected to play a pivotal role in spearheading the continent’s LNG export capacity, driving domestic electrification, and facilitating resource monetization. One such project nearing completion is the Greater Tortue Ahmeyim (GTA) LNG Project. The first phase of GTA, located on the maritime border between Senegal and
The service companies have played a pivotal role in the growth of Angola’s upstream, midstream, and downstream sectors, solidifying the country’s position among Africa’s leading oil and gas producers. In recent months, several multi-million-dollar deals have been signed, contributing to the expansion of operational energy projects in the country. As plans to increase exploration and production unfold, service companies are anticipated to be at the forefront of the industry’s evolution. Azule Energy Awards $7.5Bn in
The United States (U.S.) is advancing bilateral ties with Angola, strengthening cooperation in key areas including economic, trade, and investment, food security, global health cooperation, and climate and energy. U.S. Secretary of State, Anthony Blinken, wrapped up his four-nation tour of Africa with a visit to Angola, where he discussed the U.S.-Angola partnership and promoted shared goals such as expanding economic prosperity and energy access. During his stop in Angola on 24 and 25 January,
