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
The country’s oil production reached a total volume of 29.561 million barrels (MMBBLS) in the month of March, an average of 0.954 million barrels per day (MBPD), representing a decline of 0.7 percent compared to the month of February, which was recorded and a production of 29,781 MMBBLS. According to the monthly report, published by the national consulting company for oil, gas and renewable energies, PetroAngola, throughout the month of March, the Dália field, located
The conditions have been met to allow TotalEnergies to resume its natural gas exploration project in the country, suspended since 2021, following a major jihadist attack, Mozambican President Filipe Nyusi assured this week. At the end of March 2021, a coordinated attack on the coastal city of Palma forced the French group to suspend a €16.5 billion natural gas development project. Facilities still under construction on the Afungi peninsula were evacuated. “Cooperation and coordination with Total
Companies such as Sonangol, the National Electricity Distribution Company (ENDE) and the National Petroleum, Gas and Biofuels Agency (ANPG) are identified as fundamental to the country’s economic growth, acting as actors for the increase in the Gross Domestic Product, in the creation of jobs and essential services to citizens. According to the platform for investment in the energy sector on the continent, the unprecedented growth that the country has been experiencing in the energy sector,
Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy. Building on the event’s long-standing partnership with Angola’s Ministry of Mineral Resources, Oil and Gas and
The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of common interest, considered rich in hydrocarbons. The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company. The DRC and Angola share Block 14c, an oil perimeter known as of common interest located
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
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
The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment, an obsession to taint an African Energy Company, Trinity Energy and the South Sudan oil industry The African Energy Chamber rejects the accusations made by The Sentry as misleading, disrespectful, and unfair to South Sudan and Trinity Energy. The AEC believes The Sentry’s report is a classic case where there is a sinister rush to judgment, an
