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Local Exploration News Oil

Angola Authorises Study to Assess Oil Potential in New Exploration Areas

Angola Authorises Oil Potential Study as Government Targets New Exploration Areas Angola has authorised the hiring of a specialised consulting firm to assess the oil potential of new areas, as the country continues efforts to expand exploration and strengthen its long-term petroleum production base. The authorisation forms part of the government’s broader strategy to identify new hydrocarbon opportunities and attract investment into areas that could contribute to future oil and gas production. The consultancy will

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Local Energy News

Angola Awards 30-Year Northern Corridor Power Concession to Somagec

Angola Awards 30-Year Power Corridor Concession to Somagec for Electricity Exports to DRC Angola has awarded Somagec Energy Holding Limited (SEHL) a 30-year concession to develop and operate the Northern Corridor, a major electricity transmission project designed to enable power exports from Angola to the Democratic Republic of Congo (DRC) while strengthening electricity supply to Cabinda. The concession was approved through Presidential Decree No. 115/26 of July 2, 2026, and is being implemented under a

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Local Gas News Oil

Angola Confirms Oil and Gas Potential in Benguela Basin

Angola Confirms Oil and Gas at Katambi-2 Well in Benguela Basin Angola has confirmed significant oil and gas potential in the Benguela Basin following successful drilling and testing of the Katambi-2 appraisal well on Block 24. The results, announced by the National Agency of Petroleum, Gas and Biofuels (ANPG) and Sonangol Exploration and Production (Sonangol E&P), confirm the presence of high-quality hydrocarbon-bearing reservoirs and strengthen the prospects for developing Angola’s non-associated gas resources. Located about

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Corporate News Local Mining Projects

Pensana Clarifies Status of Strategic Investor’s Board Appointment

Pensana Updates Market on Qatar-Backed Cascade Board Appointment Pensana has provided an update on the previously announced appointment of Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to the board of Cascade Natural Resources, the Qatar-backed strategic investor in the company. Pensana said the appointment process is still underway and has not yet become effective. As a result, the appointment has not yet been filed with the Guernsey Registry. The company had announced the proposed appointment

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Local Oil Partnerships Petroleum

DRC and Angola Finalise Offshore Oil Agreement with $27.8 Billion Revenue Potential for DRC

DRC, Angola Finalise Offshore Oil Deal with $27.8 Billion in Potential Revenue for Kinshasa The Democratic Republic of Congo (DRC) and Angola have finalised an agreement governing the joint development and exploitation of offshore oil resources, marking a major step in efforts to unlock the country’s petroleum potential. The agreement is expected to generate up to $27.8 billion in potential revenue for the DRC, strengthening the economic significance of its offshore petroleum assets. The deal

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Corporate News Local Oil

Afentra Confirms Pacassa Field Extension Offshore Angola

Afentra Confirms Up to 70 Million Barrels of Recoverable Oil in Pacassa Field Extension Offshore Angola Afentra and its partners have confirmed an extension of the producing Pacassa oil field offshore Angola following successful drilling at the Pacassa Southwest (Pacassa SW) well in Block 3/05. The well encountered a substantial oil-bearing interval within the fractured Albian Pinda carbonate reservoir. Logging data and oil shows identified about 217 metres of hydrocarbon-bearing section, including an estimated 136

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Corporate News Local Mining

Pensana Joins US Presidential Briefing on Critical Minerals Supply

Pensana’s Angola Rare Earth Project Gains US Attention as Washington Targets Non-Chinese Critical Mineral Supply Pensana has participated in a private briefing with US President Donald Trump, Secretary of State Marco Rubio and senior US officials focused on strengthening independent American supply chains for rare earths and other critical minerals. The briefing highlighted the US administration’s support for reducing reliance on China for critical mineral supplies, particularly rare earth elements used in defence systems, electric

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Local News Renewable Energy

Angola Bets on Renewables as PRODEL Accelerates the Country’s Energy Transition

Angola’s Renewable Power Push: PRODEL Targets Cleaner and More Reliable Energy Supply Angola is accelerating its shift towards renewable energy, with the state-owned Public Electricity Production Company (PRODEL) highlighting the growing role of clean power in the country’s electricity mix. PRODEL President Pedro Afonso said renewable sources currently account for around 91% of energy consumed across Angola, placing the country among the African nations with the highest proportion of clean energy in domestic consumption. The

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Local Energy News

Angola’s $4.5 Billion Caculo Cabaça Dam Powers Ahead as Construction Accelerates

Angola’s 2,172MW Caculo Cabaça Hydropower Project Nears Completion as Construction Accelerates Construction of Angola’s landmark Caculo Cabaça Hydropower Project is advancing rapidly, with work on the main dam structure progressing as the country moves closer to adding 2,172 megawatts of new generation capacity to its power system. Located on the Kwanza River in Kwanza Norte Province, about 250 kilometres east of Luanda, the $4.5 billion project is being developed by Angola’s Ministry of Energy and

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Diamonds Local News

Angola’s Diamond Push Gains Momentum as New Mines Reshape the Industry

Angola Diamond Industry Targets Global Top Two by 2030 With New Mining Projects Angola is stepping up efforts to strengthen its diamond industry, targeting a rise to the world’s second-largest diamond producer by 2030 through increased investment, structural reforms and stronger transparency standards. The government says the ambition will be supported by strategic partnerships with international mining companies and the expansion of major projects that can significantly increase national output. The Luele mine in Lunda

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