The Minister of State for Economic Coordination, José de Lima Massano, stated, Wednesday, in Luanda, that the country is going through a moment in which it is not enough to just have “the highest price per barrel of oil or more oil production”, considering that “this is no longer what solves our problem”. When speaking at the 11th edition of CaféCIPRA, which is currently taking place under the theme “Impact of private investment in the
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
Portuguese multinational energy corporation Galp – alongside project partners the National Petroleum Corporation of Namibia (NAMCOR) and energy company Custos – has announced the discovery of light oil at the Mopane-1X well in Namibia. Located in Petroleum Exploration License (PEL) 83 in the Orange Basin, the discovery is the sixth in the country since 2022. According to Galp, drilling operations revealed a column of light oil in high quality reservoir-bearing sands. The project partners will
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
Maritime infrastructure operator Golar LNG’s, Gimi Floating Liquefied Natural Gas (FLNG) vessel is expected to arrive in Dakar, Senegal on 12 January, where it will serve the first phase of oil and gas supermajor bp’s, Greater Tortue Ahmeyim (GTA) project, straddling the maritime border of Mauritania and Senegal. Upon arrival, the FLNG vessel will be moored and connected to the GTA hub, where it will produce up to 2.7 million tons of Liquefied Natural Gas
France has introduced a new energy strategy that sees the development of up to 14 nuclear power plants to achieve carbon neutrality by 2050. The proposed draft law – set to be presented to the Cabinet next month – targets the construction of at least six new European Pressurized Reactors, while an additional eight reactors may be optioned to meet the country’s goal of reducing fossil fuel dependency from 60% to 40% by 2035. Despite
Australian-based Invictus Energy has raised $10.2 million in capital to fund its activities in the Cabora Bassa project in Zimbabwe. The capital infusion was achieved through a private placement, following the initiation of a share purchase plan in early May 2023. “These funds will be invested into extending the recent success of our dual gas discoveries in the Upper and Lower Angwa formations and completion of a highly successful Mukuyu-2 drill campaign,” said Invictus MD
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,
Impact Oil has signed a farmout agreement with TotalEnergies EP Namibia to sell 9,39% undivided interest in Block 2912 and 10,5% in Block 2913B in the Orange Basin. Block 2912 is under PEL 91 and 2913B is under PEL 56. Impact Oil’s wholly-owned subsidiary Impact Oil and Gas Namibia (Pty) Ltd and TotalEnergies SE’s subsidiary TotalEnergies Namibia BV signed the agreement. The transaction includes a full carry-on Impact’s retained interest for all joint venture costs,
