Australian exploration and production company Red Sky Energy is actively pursuing new investment opportunities in Angola following its acquisition of a 35% stake in Block 6/24 in January 2025. CEO Andrew Knox shared with Energy Capital & Power that the acquisition marks the company’s entry into the African market and sets the stage for further portfolio expansion, focusing primarily on existing fields and those already in production. Knox emphasized the company’s ambition to create a
The Agogo FPSO is preparing to sail from China to Angola’s Block 15/06, where it will form part of the Agogo Integrated West Hub Development. Once in place, the FPSO will increase Block 15/06’s production by 120,000 barrels per day, with operations set to begin in late 2025. Completed six months ahead of schedule, the Agogo FPSO is equipped with state-of-the-art features, including a combined cycle power generation unit, advanced electrification and digital automation, a
Angola introduced 140,185 metric tons of Liquefied Petroleum Gas (LPG) to the domestic market in the first quarter of 2024, marking a 15% increase compared to the previous quarter. Of this, 68% of the supply came from the Angola LNG plant. During a presentation on the oil derivative market’s Q1 2024 results, Angola’s downstream regulator, Instituto Regulador dos Derivados do Petroleo (IRDP), highlighted positive market growth in Q4 2024, with 1.3 million metric tons acquired
Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, met with Ufuk Akici, the Ambassador of Turkey to Angola, to discuss preparations for the 3rd session of the Joint Economic Commission of Angola-Turkey. The upcoming session will focus on key issues aimed at enhancing collaboration in sectors such as mining and petroleum. Ambassador Akici emphasized the significance of the upcoming session, viewing it as a crucial step in advancing negotiations and strengthening bilateral ties
Azule Energy announced the successful completion of the Quiluma and Maboqueiro offshore platforms this Tuesday, marking a significant step toward the production of “Made in Angola” gas. This achievement is described as a crucial element of the New Gas Consortium (NGC) project and represents a key milestone in Angola’s first non-associated gas development, according to a statement sent to VerAngola. Alister Forder, Azule Energy’s Operations Director, emphasized the importance of this success, noting that the
A state-of-the-art oil performance center officially opened its doors on Tuesday in Luanda, marking a significant development for Angola’s oil industry. The initiative, led by Internacional de Tecnologias (SLB), was inaugurated by Diamantino Azevedo, Angola’s Minister of Mineral Resources, Oil, and Gas. The center’s primary objective is to enhance the efficiency of Angola’s oil sector, focusing particularly on the challenges faced by mature oil fields. In his speech, Minister Azevedo emphasized the vital role the
Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas, along with his accompanying delegation, visited De Beers in South Africa to witness the company’s offshore diamond exploration operations. The visit allowed Angolan officials to gain valuable insights into De Beers’ exploration and extraction technologies, as well as the advantages and challenges of offshore diamond mining, according to a press release from the Ministry. The visit provided an opportunity for Minister Azevedo and officials from
Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, reaffirmed the country’s strong investment potential, highlighting its geological wealth, infrastructure, and modern laboratories. Speaking at Mining Indaba 2025 in Cape Town, South Africa, Azevedo emphasized Angola’s stability and investor-friendly mining legislation. Azevedo stated that Angola had all the necessary conditions for investors, citing a major geological data acquisition program conducted in previous years. He underscored the government’s efforts to attract responsible and sustainable mining
Brazilian oil giant Petrobras is actively exploring new opportunities in Angola following its return to African oil exploration via São Tomé and Príncipe in 2023. The company confirmed to Lusa that it continuously evaluates strategic areas to replenish reserves and maximize profitability. Petrobras is particularly interested in oil basins along Africa’s Atlantic coast, including Angola, due to their geological similarities with Brazil’s Campos, Santos, and Pelotas basins. In February 2024, Petrobras acquired three exploratory blocks
Angola’s petroleum derivatives market acquired approximately 1,316,697 metric tons (MT) of fuel for commercialization in the fourth quarter of 2024. Of this total, 60% was diesel, 27% gasoline, 5.3% fuel oil, 5.2% Jet A1, 1% asphalt bitumen, and 0.8% illuminating kerosene. These figures were presented on Thursday by Luís Fernandes, Director-General of the Petroleum Derivatives Regulatory Institute (IRDP), during a review meeting on sector activities. He noted that liquid fuel acquisitions came from the Luanda
