Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned Sodiam sold $12.9 million worth of rough diamonds at their third tender of the year. The sale, held in Luanda, featured 44 diamonds over 10.8 carats, including two stones exceeding 175 carats. Of the 44 stones offered, 42 were sold. Despite a challenging global diamond market, 38 international manufacturing firms participated in the tender. Both TAGS and Sodiam highlighted the benefits of the transparent tender system, which
Energy technology company Baker Hughes has been awarded a contract to provide advanced compression solutions to Saipem, supporting TotalEnergies’ Kaminho FPSO project offshore Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line technology, selected for its ability to reduce emissions by eliminating routine flaring and reinjecting associated gas into the reservoir for storage. “The all-electric Kaminho FPSO project in Angola is a prime example of sustainable energy development, providing critical energy
UK-based integrated energy company Corcel is targeting Angola’s onshore blocks KON 11 and 12 as part of its strategic expansion, according to CEO Scott Gilbert, who spoke at the Angola Oil & Gas 2024 conference. In the interview, Gilbert revealed that Corcel is actively seeking new ventures, aiming to acquire oil and gas assets in both Angola and Brazil. He highlighted Angola’s onshore prospects, which have been producing oil since the 1970s, and expressed the
U.S. President Joe Biden is set to visit Luanda, Angola, in December to discuss key areas of collaboration, including economic partnerships, security, and health. This visit highlights Angola’s growing importance as a strategic partner to the U.S. Biden’s trip aims to enhance U.S. companies’ global competitiveness and spotlight the G-7’s Partnership for Global Infrastructure and Investment initiative, which helped fund an 800 km railway connecting Angola with the Democratic Republic of Congo and Zambia. The
On October 16, the headquarters of Caixa Social de Catoca was inaugurated, an event attended by representatives from the Ministry of Mineral Resources, Oil and Gas, Endiama EP, senior management of Sociedade Mineira de Catoca, as well as individuals from the diamond subsector and other guests. The Social Fund of Catoca will serve as a complementary social protection mechanism aimed at addressing the most pressing needs of workers and former employees, particularly in areas related
Angola’s national oil company, Sonangol, is on track to achieve a national production quota of 10% by 2027, aiming for an output of 80,000 barrels of oil per day across its more than 35 concessions. This announcement was made by Sebastiao Martins, Sonangol’s chairman, during the opening ceremony of the 5th Angola Oil & Gas Conference (AOG) 2024 in Luanda. Martins stated, “The projects we are currently undertaking are designed to reach this production level
PetroWorld, a Dubai-based oil company, is set to open a lubricants factory in Angola early next year, with an estimated creation of approximately 20,000 jobs. The new facility will have a production capacity of around 10,000 liters of lubricants per day. Evandro dos Santos, PetroWorld’s Operations Director, announced the initiative during the fifth Angola Oil & Gas conference held last week in Luanda. The project is expected to cost $5 million, with a total funding
Nina Birgitte Koch, Vice President for Africa at Equinor, has commended Angola’s initiatives to revitalize older oil wells and reverse declining production, calling the measures “very positive” and “unusual” for the oil industry. Speaking to Bloomberg on the sidelines of a conference in Cape Town, Koch emphasized that Angola’s proactive approach is unlocking previously inaccessible resources. The measures implemented by the Angolan government aim to encourage extraction from older and marginal wells, which is helping
Angolan President João Lourenço acknowledged the severity of the global climate crisis while emphasizing the right of hydrocarbon-producing countries to develop their resources for the benefit of their citizens. Speaking at the opening of the 5th Angola Oil & Gas (AOG) conference in Luanda, Lourenço stressed the importance of balancing resource development with environmental responsibility. He recognized the harmful effects of climate change but underscored that hydrocarbon-producing nations, like Angola, should continue to develop their
Angola’s state-owned diamond marketing company, Sodiam, announced the electronic auction of 44 special diamonds, each weighing approximately 10.80 carats. The evaluation sessions will take place from October 7th to 16th, with bidding set to close at 10:00 am local time on the final day. According to Sodiam’s statement, the auction is being organized in collaboration with Trans Atlantic Gem Sales and is open to customers in Sodiam’s database with expertise in trading special stones. Viewing
