Walcot Group, a Nigerian energy company, has officially entered Angola’s oil and gas sector by signing a major Production Sharing Contract with the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG). The agreement follows Walcot’s successful bid for three oil blocks in a recent international licensing round and marks a significant step in the company’s strategy to expand across Africa’s leading energy markets. The signing ceremony took place in Luanda, where Walcot’s Founder and
SPIE Global Services Energy has signed a five-year maintenance contract with Angola’s national oil company, Sonangol, for operations on Block 3/05, located offshore Angola. Effective from September 2024, the contract covers comprehensive maintenance services, including the upkeep of electrical and mechanical equipment, HVAC systems, turbomachinery, instrumentation, and automation systems. These services will be provided across the Cobo, Pacassa, and Palanca production platforms. Jerome M. Oliveira, Sub-Saharan Africa Business Unit Director at SPIE, highlighted that the
The launch of production at Angola’s Luele diamond mine in October 2023 played a crucial role in boosting revenues during the fourth quarter of the 2024 financial year. According to a report by the National Diamond Trading Company (Sodiam), the company conducted four production cycles from the Catoca and Luele projects during this period. The findings were presented at the 2025 Diamond Sector Outlook, where Sodiam highlighted that net results were influenced by an average
The Lobito Corridor can strengthen trade and investment opportunities for Angola, Zambia, and the Democratic Republic of Congo, said the European Union (EU) Ambassador to Angola, Rosário Bento Pais, on Thursday in Luanda. Speaking at the launch of four EU-funded youth entrepreneurship projects in Luanda, the ambassador emphasized that the corridor has the potential to drive economic diversification and create job opportunities for young people across Angola, Zambia, and the DRC. She noted that the
The possible return of Donald Trump to the U.S. presidency could usher in a new phase of cooperation between the United States and Angola, particularly in the oil and gas sector. With Trump’s consistent support for fossil fuel development—captured in his familiar slogan “drill, baby, drill”—Angola, one of Africa’s top oil producers, may benefit from a foreign policy that places energy collaboration at its core. Angola’s hydrocarbon-rich deepwater basins have long drawn international investment. American
Tanzania’s President Samia Suluhu Hassan paid an official visit to Angola’s Luanda Refinery in April 2025, highlighting growing cooperation between the two nations, particularly in the energy sector. Hosted by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, the tour offered President Hassan a firsthand look at the refinery’s operations, including its refining processes, modern technologies, and ongoing expansion efforts. The visit also featured high-level discussions focused on knowledge exchange, investment opportunities, and
Angola’s state oil company, Sonangol, is in advanced talks with Chinese and European banks to secure $4.8 billion in funding needed to complete its long-delayed Lobito refinery project. The facility, once operational, will have the capacity to process 200,000 barrels of crude oil per day, significantly reducing the country’s dependence on imported refined fuel. Despite being Sub-Saharan Africa’s second-largest crude oil exporter, Angola imports nearly 80% of its refined petroleum products. The Lobito refinery is
AD Ports Group has awarded contracts to Mar Construction Civil & Obras Publicas and Dar Al-Handasah Consultants Shair & Partners for the modernization of the Noatum Ports Luanda Terminal in Angola. Mar Construction will be responsible for designing and building both the topside and marine infrastructure, while Dar Al-Handasah will manage the project and oversee construction supervision. Launched on January 30, 2025, the upgrade aims to transform the terminal into a state-of-the-art facility handling general
ASX-listed Lucapa Diamond Company has announced a 9% increase in the Joint Ore Reserve Committee (JORC)-compliant inferred alluvial diamond resource at its Lulo concession in Angola, adding 249,000 carats to the total. This marks the seventh consecutive year of resource growth at the Lulo project, reinforcing its long-term production potential. Additionally, the total diluted gravel volume available for mining has risen by 15% to 5.8 million cubic metres, supporting a production horizon of at least
The National Oil, Gas and Biofuels Agency (ANPG) has signed two new contracts with three companies to share onshore oil production in Blocks CON 3 and KON 15, located in Angola’s Lower Congo and Kwanza Basins, respectively. The agreements, signed on Monday, involve Walcot, which will operate Block CON 3, and a consortium of Sonangol and Afentra, which will jointly operate Block KON 15. The ceremony was attended by Alcides Andrade, Executive Director of ANPG;
