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Category: Oil

Gas Oil

ANPG and TotalEnergies signed contracts for onshore exploration of eight blocks

The national oil concessionaire, TotalEnergies and the associates of Block 48 signed this Thursday, in Luanda, contracts for the exploration of three blocks in the Congo onshore Basin and another five in the Kwanza onshore Basin. At the ceremony, the president of the National Agency for Petroleum, Gas and Biofuels (ANPG), Paulino Jerónimo, stressed that the signing of the contracts is the culmination of a long negotiation process. Paulino Jerónimo “strongly” congratulated the investors, partners

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Oil

MTI Energy explores Congo and Kwanza blocks

Canadian oil company MTI Energy begins this year with seismic studies to explore the shared blocks of the Congo and Kwanza onshore basins, tendered by the National Agency of Petroleum, Gas and Biofuels (ANPG) With a production of 25,000 barrels of oil/day, MTI Energy will explore Block 5, in the Congo basin, where it has a 50 percent share in production. In this basin, the Canadian oil company shares exploration with Prodoil (15 percent), Prodiaman

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Oil

Brent barrel for October delivery up 1.77%

The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in October ended, this Monday, on the London futures market up 1.77%, to US$96.60. The data on Chinese exports for July, above what analysts had anticipated, boosted investors’ perspectives on the evolution of oil demand. Despite the result of the session having been positive for the price of a barrel during the day, it was evolving by

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Gas Oil

ANPG and Total announce first development of ‘Begonia’ in Block 17/06

The final investment decision for the Begónia Development Area, located in the Lower Congo sea basin, about 150 kilometers off the Angolan coast, has already been taken. The information is provided by ANPG, TotalEnergies and the partners in Bloco 17/06. The Begónia reservoir will be developed through five subsea wells (three for production and two for water injection), connected to the floating production, storage and offloading unit FPSO Pazflor, in production since 2011 in Block

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Oil

Sonangol’s profit grows to 2.1 billion dollars, the best result since 2014

The consolidated net income of state-owned oil company Sonangol amounted to 2.1 billion dollars in 2021, the best result in eight years and an increase of 152 percent over the previous year. According to the statement released this Wednesday by Sonangol, on the day it published its 2021 report and accounts, it was “a substantially robust economic and financial result, the result of excellent operational performance” that results from the measures taken, namely cost rationalization,

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Gas Oil

Closed deals. Gas exploration in the Quiluma and Maboqueiro fields starts in 2026

Negotiations for the start-up of the new gas consortium in Angola were closed. According to an announcement by the National Oil, Gas and Biofuels Agency (ANPG) and Eni, the New Gas Consortium (NGC) has closed the Final Investment Decision for the Quiluma and Maboqueiro gas project, whose gas exploration will start in 2026. “The National Oil, Gas and Biofuels Agency, Eni and the partners of the New Gas Consortium (Chevron, Sonangol, BP and Total) inform

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Oil

Angola raised 11.8 billion dollars in the second quarter of this year with oil exports

Angola raised 11.8 billion dollars in the second quarter of this year, with the export of 103.6 million barrels of crude oil, 75.5 percent more than in the same period in 2021, according to official data. The data are contained in the Balance of Exports of Crude Oil and Natural Gas for the second quarter of 2022 presented this Tuesday by the Ministry of Mineral Resources, Oil and Gas. In the period in question, the

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International Oil

Angola, Egypt Strengthen Bilateral Cooperation

Angola is pursuing improved cooperation with Egypt as the country looks at strengthening trade and investment within the energy, industry and commercial sub-sectors. Leveraging Egypt’s expertise, particularly within oil, gas, renewable energy and industrial engineering, the southern African country has prioritized foreign investment, intra-African trade and economic diversification. Speaking during the opening of an economic forum between the two countries this month, Angola’s ambassador to Egypt, Nelson Manuel Cosme, emphasized that the country is officially open

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Oil

ANPG spends three million on study to locate abandoned oil blocks in the country

Three million dollars is how much the National Agency of Petroleum, Gas and Biofuels (ANPG) will spend on a study aimed at locating abandoned oil blocks in the country. The expenditure was authorized by the Government and is intended to prevent the occurrence of spills, as happened in an abandoned well in Cabinda, which caused damage to the population and the environment. In presidential decree 139-D, cited by Expansão, the Executive states that since the

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Oil

Somoil raises oil production to 17,000 barrels/day

Somoil doubled, between 2020 and 2022, oil production from eight to 17 thousand barrels/day, due to the investment applied, in the last two years, in drilling and in new technologies, according to the chairman of the Executive Board. Edson Rodrigues dos Santos said that the Angolan oil company – Somoil, which operates in block 2/05, in shallow waters and in the FS&FST block, in the “Onshore”, in the municipality of Soyo, in the province of

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