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Category: Local

Local Oil Petroleum

50 Oil Blocks Open for Investment in Angola by 2025

The National Oil, Gas, and Biofuels Agency (ANPG) outlined its strategy to auction off 50 oil blocks by 2025 to bolster and stabilize national oil production. This initiative was highlighted by Paulimo Jerónimo, the president of ANPG’s Board of Directors, during the launch of bidding proposals for the exploration of the Lower Congo and Kwanza Onshore Basins in Luanda. Jerónimo emphasized Angola’s conducive business environment and flexibility in negotiations, underscoring the commitment to offering approximately

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Local Energy Oil Petroleum

Block 15 Set to Achieve Daily Production Milestone of 30,000 Barrels in 2024

Block 15, marking 20 years of operation in Angola, aims to achieve an average production milestone of 30,000 barrels per day in the coming year, announced Melissa Bond, ExxonMobil’s General Director. Situated about 145 kilometers off the Zaire province coast, Block 15 has seen significant success, reaching an accumulated production of 2.5 billion barrels since its discovery in April this year. ExxonMobil’s investments exceeding $30 billion have resulted in 18 commercial discoveries within the block,

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Local Diamonds Gas Mining Oil

Mining sector sees Potential of Cuanza-Sul

The copper and diamond mines in Cuanza-Sul province hold the potential to amplify local mining operations and broaden the avenues for wealth creation. This vision was emphasized recently by João Chimuco, the Executive Administrator of the National Mining Resources Agency. During his recent visit to Sumbe, the capital of Cuanza-Sul province, João Chimuco emphasized the necessity for collective involvement to effectively translate potential wealth into tangible resources. Following a courtesy meeting with the vice-governor for

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Local News

Angola hosts 15th Assembly of African Geological Services

The event aims to bring together the 44 member countries of the African Geological Survey Organization  to discuss the issue of minerals for the energy transition in Africa, to support the African Mining Vision (VMA). According to the Ministry of Mineral Resources, Oil and Gas, on Facebook, the program includes the intervention of the minister, Diamantino Pedro Azevedo. On the occasion, guided tours will be carried out to the geological structures observable in the Miradouro da Lua-Cabo

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Gas Local Oil Petroleum

ASSEA and Muhatu Energy Launch ‘Ubuntu’ Internship to Boost Women in Angola’s Oil Sector

The Association of Autochthonous Companies for the Oil Industry of Angola (ASSEA), in collaboration with the Muhatu Energy Angola (MEA) platform, is set to unveil the ‘Ubuntu’ internship program in Luanda. The initiative aims to provide final-year students of technical-professional courses with a hands-on experience in a real work environment. Designed to prioritize gender diversity, the program is exclusively tailored for female students. Currently, women constitute only 22 percent of the total workforce in the

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Economy Local News

Angola-DRC Trade Soars to Over $100 Million in 2022

Trade between Angola and the Democratic Republic of Congo (DRC) witnessed remarkable growth, exceeding $100 million in 2022, as announced at the 2nd Angola Economic Forum – DRC in Luanda. The Minister of Industry and Commerce, Rui Miguêns, presented the data, highlighting the increase from $46 million, along with a rise in imports from $2.5 million to $10 million during the same period. Despite acknowledging some unaccounted transactions, Minister Rui Miguêns believes Angola’s official trade

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Diamonds Economy Environment Social Governance (ESG) Local

ENDIAMA invests USD 6 million in social Responsibility

Over the last five years, Angola’s National Diamond Company has invested a total of six million US dollars in the Lucrécia Paím maternity hospital, to improve maternal and neonatal care in that unit, which is dedicated to the medical monitoring of pregnant women until the end of their pregnancy, as well as the care of parturients. The financial support is part of its social responsibility and is the result of a memorandum signed in May

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Economy Local News

Angola’s Economy Predicted to Grow by 3% in 2024

Global organization the International Monetary Fund (IMF) forecasts a 3% growth for Angola’s economy in 2024. In a report titled, ‘Regional Economic Outlook on Sub-Saharan Africa: A Light on the Horizon?,’ the IMF projects that improved economic performance and a return to fiscal consolidation are also expected during the year, with the country’s 2024 growth surpassing 2023 levels. The report further suggests a forecasted year-on-year consumer price increase of 22.3% for 2024 in Angola, exceeding

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Energy Local News Oil Petroleum

Afentra Secures Angola’s Approval for Block Acquisitions from Sonangol

Independent energy company Afentra has received approval from Angola for the acquisition of stakes in Block 3/05 and Block 23 from the country’s National Oil Company Sonangol. Under the agreement, which is pursuant to a sale and purchase agreement between Sonangol and Afentra through its wholly-owned subsidiary Afentra (Angola), the company will acquire a 14% interest in Block 3/05 and a 40% stake in Block 23, offshore Angola. Afentra is also working with Sonangol to

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Infrastructure Local News

Angola Opens New $3 Billion Luanda International Airport

The government of Angola has officially inaugurated the new Dr. António Agostinho Neto International Airport (AIAAN), which will serve as the country’s main hub for passenger and cargo services, gradually replacing Luanda’s Quatro de Fevereiro Airport (LAD). The airport construction is estimated to have cost over $3 billion, including the supporting infrastructure. Angola’s Minister of Transport, Ricardo Viegas D’Abreu, told Simple Flying that it is a public investment fully funded by the government. This will

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