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
| 30 Oct 26 |
Angola: Afentra announces acquisition of additional interests in Blocks 3/05 and 3/05A, offshore Angola Afentra has announced the publication of the executive decree for Block 3/05A by the Angolan Ministry of Mineral Resources, Petroleum and Gas ('MIREMPET') for the previously announced acquisition from Etu Energias S.A. of additional interests in Blocks 3/05 and 3/05A, offshore Angola. |
| 14 Oct 26 |
Angola: Afentra provides an operational update on its offshore Angola portfolio Afentra, an upstream oil and gas company focused on production and development assets in Africa, has provided an operational update on its offshore Angola portfolio, including confirmation of the revised sequence for drilling the Impala-2 development well and completion of the Pacassa SW well. |
| 14 Sep 26 |
Angola: Saipem awarded new offshore contract in Angola worth approx. 350 million USD Saipem has been awarded a new offshore contract in Angola worth approx. 350 million USD. The contract has been assigned by Azule Energy Angola S.p.A., an incorporated joint venture owned by Eni and bp, and relates to the West Hub Tails project, part of the wider Agogo Integrated West Hub Development, located 180 km offshore Angola at water depths up to 1,750 meters. |
| 10 Sep 26 |
Angola: TotalEnergies announces a new discovery on Block 17 and enters new exploration blocks On the occasion of the Angola Oil & Gas Conference, Patrick Pouyanné, Chairman and CEO of TotalEnergies, announced several exploration successes. |
| 10 Sep 26 |
Angola: QatarEnergy Shell and Sonangol E&P sign agreement for Angola offshore block QatarEnergy, alongside its partners Shell and Sonangol E&P signed an agreement with Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) pertaining to Blocks 8 and 22 offshore the Republic of Angola. |
Angola - more news
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