Middle East / Africa
Country profile: Angola
| Location: | Southern Africa, bordering the South Atlantic Ocean, between Namibia and Democratic Republic of the Congo,0 |
| Climate: | semiarid in south and along coast to Luanda; north has cool, dry season (May to October) and hot, rainy season (November to April) |
| Terrain: | narrow coastal plain rises abruptly to vast interior plateau |
| Size: | 1246700 sq. km total (Land area: 1246700 sq. km ) |
| Population: | 12,531,357(July 2008 est.) |
| Languages: | Portuguese (official), Bantu and other African languages |
| Government: | republic; multiparty presidential regime |
| Capital city: | Luanda |
| Legal system: | based on Portuguese civil law system and customary law; modified to accommodate political pluralism and increased use of free markets; has not accepted compulsory ICJ jurisdiction |
| Currency: | kwanza (AOA) |
| Licensing: |
Country profile
Angola is the third largest oil producer in Africa behind Nigeria and Libya and is expected to have significant oil production increases in the short-term as new offshore projects come online. On January 1, 2007, Angola became the 12th member of the Organization of Petroleum Exporting Countries (OPEC) and in December of that year, received an oil production quota of 1.9 million barrels per day (bbl/d) effective January 1, 2008.
Angola is still rebuilding infrastructure destroyed during the country’s 27-year civil war that came to an end in 2002. Although the country is beginning to see growth and stability, challenges persist—around 70% of the population still lives on less than US$1/day; the World Bank ranks Angola as one of the most difficult places in the world to do business as a result of cronyism and bureaucracy; and there are persistent allegations of corruption and lack of transparency in public finance.
In recent years, China has agreed to provide multi-billion dollar oil-backed loans to fund infrastructure development. These loans are costly and repayment depends heavily on international oil prices. But at the same time, Chinese support has placed Angola in a position where it could break ties with the International Monetary Fund (IMF) over economic support programs that require, among other things, governance and transparency. Nonetheless, the country is experiencing high levels of foreign direct investment (FDI), particularly in the oil sector.
Energy production and consumption
| Oil | Gas | |
| Production: | 1 million bbl/day (2005 est.) | 767 million cu m (2005 est.) |
| Consumption: | 50,000 bbl/day (2005 est.) | 767 million cu m (2005 est.) |
| Exports: | 1 million bbl/day (2004) | (2005 est.) |
| Imports: | 18,290 bbl/day (2004) | (2005) |
| Reserves: | 25 billion bbl (2007 est.) | 44 billion cu m (1 January 2006 est.) |
| Major fields: |
Angola - recent news
| 16 Sep 25 |
Angola: Corcel announces award of KON-16 2D seismic acquisition project AIM-listed Corcel, the Angola-Brazil-focused energy company, has announced that, through its subsidiary Atlas Petroleum Exploration Worldwide ('APEX'), it has awarded the upcoming 2D seismic acquisition program within the KON-16 Block, onshore Angola, to BGP, after a competitive bidding process. |
| 08 Sep 25 |
Angola: Afentra signs Heads of Terms for first operated license offshore Angola Afentra, the upstream oil and gas company focused on acquiring production and development assets in Africa, has signed Heads of Terms with Angola's National Agency of Petroleum, Gas and Biofuels (ANPG) for the Risk Service Contract (RSC) for offshore Block 3/24, located adjacent to its existing Block 3/05 & 5A interests in Angola. |
| 05 Sep 25 |
Angola: Red Sky signs agreement for Block 6/24, offshore Angola Red Sky Energy has advised that Managing Director Andrew Knox attended a formal signing ceremony in Angola to complete the Risk Service Contract (RSC) for Block 6/24, following recent parliamentary ratification. |
| 04 Sep 25 |
The President of Angola João Lourenço meets Eni CEO Claudio Descalzi The President of the Republic of Angola João Gonçalves Lourenço and the CEO of Eni Claudio Descalzi met in Luanda to review Azule Energy’s progress as well as Eni’s activities in the country, and to discuss future initiatives. |
| 04 Sep 25 |
Angola: BOURBON wins a 5-year contract with ExxonMobil in Angola and launches its new 34m Crewboat model BOURBON reinforces its 15-year collaboration with ExxonMobil in Angola, announcing the signing of a five-year contract for the charter of new 34-meter vessels to transfer personnel between Soyo and Block 15, 80 miles offshore. |
Angola - more news
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