The Italian company Saipem won 3 important new service contracts for the New Gas Consortium (NGC) led by Azule Energy (Eni Angola & bp Angola), for the development of the Quiluma and Maboqueiro gas fields, located offshore Angola. The Italian player was awarded 1 onshore contract and 2 offshore contracts, with a global value of around US$900 million, Saipem will be responsible for engineering, procurement and construction, as well as connection and commissioning assistance for
The New Gasoline Production Complex at the Luanda Refinery, recently opened by Sonangol, reached a maximum capacity of 1,580,000 liters of gasoline/day, against the previous 395,000 liters, under safe conditions. According to the coordinator of the project to increase the complex’s gasoline production capacity, João Mayer, reaffirms that with the complex being fully operational, it will reduce expenses with annual fuel imports by 15 percent and will save 300 million euros. of dollars a year,
Angola’s New Gas Consortium – comprising Azule Energy, Chevron, Sonangol and TotalEnergies – has awarded Italian multinational oilfield services company, Saipem, three engineering, procurement and construction (EPC) contracts. The contracts are for the development of the Quiluma and Maboqueiro (Q&M) fields located in the Lower Congo Basin, offshore Angola. The one onshore and two offshore contracts, estimated at a total $900 million, will see Saipem conduct EPC work including hook-up and commissioning assistance for the Quiluma platform.
Last fall, I wrote (https://bit.ly/3zPqScP) about the importance of African governments doing everything they could to encourage international oil companies (IOCs) to continue operating in their countries. IOCs play an important role in supporting economic growth, job creation, capacity building, and knowledge sharing. Currently, two IOCs in particular — Azule Energy in Angola and Shell Petroleum Development Corporation of Nigeria (SPDC) — have tremendous promise to deliver those benefits on a long-term basis. Azule Energy,
The Republic of Angola is a vast country with a coastline spanning 1,600km, sharing borders with Namibia to the south, and Zambia and the Democratic Republic of the Congo (DRC) to the east and northeast, respectively. A lower middle-income country, the backbone of Angola’s economy is driven by its oil industry, which, along with fishing, are the country’s main sources of foreign investment. The upstream oil industry is Angola’s primary source of foreign exchange, contributing
The national oil concessionaire, TotalEnergies and the associates of Block 48 signed this Thursday, in Luanda, contracts for the exploration of three blocks in the Congo onshore Basin and another five in the Kwanza onshore Basin. At the ceremony, the president of the National Agency for Petroleum, Gas and Biofuels (ANPG), Paulino Jerónimo, stressed that the signing of the contracts is the culmination of a long negotiation process. Paulino Jerónimo “strongly” congratulated the investors, partners
The final investment decision for the Begónia Development Area, located in the Lower Congo sea basin, about 150 kilometers off the Angolan coast, has already been taken. The information is provided by ANPG, TotalEnergies and the partners in Bloco 17/06. The Begónia reservoir will be developed through five subsea wells (three for production and two for water injection), connected to the floating production, storage and offloading unit FPSO Pazflor, in production since 2011 in Block
Negotiations for the start-up of the new gas consortium in Angola were closed. According to an announcement by the National Oil, Gas and Biofuels Agency (ANPG) and Eni, the New Gas Consortium (NGC) has closed the Final Investment Decision for the Quiluma and Maboqueiro gas project, whose gas exploration will start in 2026. “The National Oil, Gas and Biofuels Agency, Eni and the partners of the New Gas Consortium (Chevron, Sonangol, BP and Total) inform
Angola pocketed 1.1 billion dollars in the second quarter of this year, with the export of one million metric tons of gas, 6.63 percent less compared to the same quarter of 2021, according to official data. According to the Balance of Crude Oil and Natural Gas Exports for the second quarter of 2022, presented this Tuesday by the Ministry of Mineral Resources, Oil and Gas, gas exports in the second quarter of this year represented
With targets currently in place to meet a larger share of the global market, Africa’s top oil producing countries are seeking solutions to increase investment in the oil sector and tap into the continent’s 125.3 billion barrels of oil reserves. Taking advantage of Africa’s vast resources has been a top priority for some of the continent’s largest oil producers, with the industry relying heavily on the performance of high-quality oil rigs – platforms that are
