Sonangol announced, on Thursday 11th January, in a statement, that it had confirmed the prevalence of oil in a second evaluation well in Block 11 of the Kwanza Onshore Basin, called Kon 11, after drilling operations concluded on December 21, 2023. The document indicates that the operations were carried out by the Exploration and Production Business Unit (UNEP), having occurred “at a considerable depth” and that the drilling, considered “very positive”, resulted in the confirmation of
The National Diamond Company of Angola (Endiama) is quantifying the assets, heritage and reserves of all companies and concessions linked to the group, with part of the process for the dispersion of its capital on the stock exchange, starting in 2027. The information was provided by the chairman of the company’s Board of Directors, Ganga Júnior, in an interview given to the publication “The Energy Year”, in which he presented an overview of the company’s
Angola’s second largest port, the Port of Lobito, has recorded an increase of 7.57% in ship movement since 2022, with 351 ships docked at the port handling 1,332,451 tons of cargo in 2023. Announced by Celso Rosas, Chairman of the Board of Directors of the Port of Lobito, it was highlighted that the port collected revenues of more than $16.6 million in 2023. Despite an increase in ship movements, however, the Port of Lobito recorded
A consortium comprising maritime construction firm Ocean Installer and engineering company Oceaneering has won a contract for work on the Girassol Life Extension (GIR FLEX) project in Angola. Awarded by French multinational TotalEnergies and its partners for Block 17, the contract will extend the production lifecycle of the project to 2031. Ocean Installer will handle transportation and installation services for GIR FLEX, encompassing the recovery of old risers, transportation, and installation of 10 new risers,
German multinational technology company Voith has secured a one-billion-dollar contract to supply and install electrical and mechanical equipment for the 2,172 MW Caculo Cabaça hydropower plant in Angola’s Kwanza Norte Province. The project involves the installation of four 530 MW hydropower turbines, a 52 MW turbine, generators, and control and auxiliary systems. Under the contract, Voith will also establish a training center to foster local skills development and provide post-commissioning support services to ensure optimal
The export of 960 tons of raw copper ore, from the Kolwezi region, Democratic Republic of Congo (DRC), to the international market, which was scheduled to begin on Monday, 8th, should only begin on the 18th of this month. The information was provided by the Commercial Director of Lobito Atlantic Railway (LAR), Artur Silva. However, there was no need to clarify the reasons underlying the change in the shipment date and the destination of the cargo,
Angola has recently decided to exit the Organization of the Petroleum Exporting Countries (OPEC), effective January 1, 2024, marking a pivotal shift in the global oil industry. This move, akin to Ecuador’s departure in 2020 and Qatar’s exit in 2019, heralds significant changes in the geopolitical landscape of oil production and distribution. Angola’s relationship with OPEC traces back to its membership in 2007, joining the organization’s efforts to regulate and coordinate oil production for stable
The production and sale of cooking gas reached 471,583 metric tons in 2023, announced the President of the Executive Committee of Sonangol’s Gas Unit, Sonagás, stating that this figure met the established targets for the year. Miguel Barros was quoted in the December Sonangol newsletter stating that the production achieved in 2023 serves as a prelude to the record of 500,000 metric tons that the company aims to reach in 2024. The President of Sonagás’
OPEC oil production increased in December, when Angola set January 1st as the date to leave the organization and, at the same time as Nigeria and Iraq, increased exports, providing the market with an offer that offset the effect of the cuts. from Saudi Arabia and OPEC+ allies to support the market. A survey published last week disclosing this information indicates that the Organization of Petroleum Exporting Countries produced 27.88 million barrels per day (bpd)
The Minister of Mineral Resources, Oil and Gas (MIREMPET) stated, last week, in Luanda, that the Executive will continue to prioritize the carrying out of geological research, aiming to maximize profits in the various subsectors of the Extractive Industry. Diamantino Azevedo, who was speaking during the New Year’s greetings ceremony, highlighted that the research had a significant impact on the efficiency of prospecting and exploration projects carried out in 2023, especially in the diamond sector. “This important
