In the first four months of 2024, Angola collected 2.9 billion kwanzas in oil revenues, marking a significant 43 percent increase compared to the same period in 2023. This figure represents 37 percent of the total projected in the General State Budget (OGE). Analysts at Banco Millennium Atlântico, as reported by Lusa, highlighted that oil tax revenues account for 60 percent of Angola’s total tax revenue and 53 percent of current revenue, according to OGE
The FPSO Agogo vessel, set to operate in the West Integrated Hub of Angola’s Block 15/06, has ordered low-cost centrifugal pumps from the UK-based company Amarinth, which specializes in their production. Currently under construction by Yinson Production, the FPSO Agogo will be operated by Azule Energy once completed. The platform is designed to produce up to 120,000 barrels of oil per day, with operations expected to commence in 2025. According to Offshore Technology, Amarinth will
On Monday, in Luanda, a meeting was held between Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and De Beers Group’s Operations Director, Moses Madondo, to discuss the implementation of the Strategic Memorandum of Understanding (MoU) in the diamond sector. According to Jornal de Angola, citing the Ministry of Mineral Resources, Oil and Gas, the meeting focused on assessing the progress of the MoU, which was signed in Cape Town, South Africa, in
Nearly four months after Tobago endured one of its worst environmental disasters, the vessel allegedly involved has been located thousands of kilometers away on another continent and detained on unrelated charges. On the morning of February 7, authorities detected an oil slick emanating from a capsized vessel off the west coast of Tobago. The slick rapidly reached the southwest shoreline, prompting a national emergency declaration. The tug and barge identified in the incident were the
The Stena Sonangol Suezmax Pool, a joint venture between Stena Bulk and Angolan state-owned energy company Sonangol, has expanded its fleet with the addition of a vessel from German ship management company Hammonia Reederei. Hammonia’s 2020-built, 156,000 dwt crude oil tanker, Aura M, has joined the pool, which previously comprised 19 vessels with a combined capacity of 3 million dwt and an average age of 10.3 years. “This new membership and the addition of Aura
Oslo-listed offshore driller Shelf Drilling has secured a new contract for one of its jackup drilling rigs. The company won a 15-month deal for the Shelf Drilling Tenacious rig which will work offshore West Africa. The award will begin in direct continuation of the Singapore-built unit’s current contract, extending the commitment until February 2026. The rig is hired by the Cabinda Gulf Oil Company, an Angolan subsidiary of US major Chevron. It has been with the company
Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola. This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP. The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes
The National Oil, Gas and Biofuel Agency (ANPG) is gearing up to launch the first phase of a significant project in southern Angola. The initiative, titled “Geological Mapping and Demining Study Project,” will focus on the Etosha/Okavango Basin, spanning the provinces of Moxico, Cuando Cubango, and Cunene. This project aims to assess the oil and hydrocarbon potential within the basin. Initial areas of interest include Chiedi in Namacunde municipality and Ruacana in Curoca, both located
Angola is prioritizing the technical training of its geological workforce to tackle the challenges of prospecting, discovering, and managing valuable mineral deposits. This commitment was reaffirmed at the recent opening of a seminar titled “Geological Workflow – Drilling to Geological Decision, Applied to the Oil and Gas Industry.” The event, co-hosted by the Geological Institute of Angola (IGEO) and Seequent, brought together industry professionals for a two-day discussion on mining challenges in Angola. Importance of
Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino de Azevedo, outlined a multi-pronged approach to strengthen the country’s oil and gas sector. The plan focuses on attracting investment, achieving self-sufficiency in refined products, and promoting responsible development. The Angolan government is actively seeking investment in several areas: -Refining, Storage, Transport, and Distribution (RST&D) of petroleum products -Construction of gas stations to improve distribution efficiency -Onshore storage facilities with the Barra do Dande Ocean Terminal
