Middle East / Africa

Angola flag
Summary | Profile

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

14 May 21
Angola: Seadrill JV secures new contract offshore Angola for the Quenguela drillship
Seadrill has announced a new contract has been secured by Sonadrill, the 50:50 joint venture with an affiliate of Sonangol. Sonadrill has secured a twelve well contract with one option for nine wells and eleven one well options in Angola for the Sonangol Quenguela drillship.
06 May 21
Angola: Total starts production from Zinia Phase 2, successful short-cycle development on Block 17
Total, operator of Block 17 in Angola, has announced the start of production from the Zinia Phase 2 short-cycle project, connected to the existing Pazflor’s FPSO. The project includes the drilling of nine wells and is expected to reach a production of 40,000 barrels of oil per day by mid-2022.
26 Apr 21
Angola: PGS completes data imaging of the Kwanza Shelf and releases final products
PGS has announced that final depth-imaged data, is now ready for viewing, and covers Angola 2021 offshore licensing opportunities. 8,300 sq km of GeoStreamer data is available for Blocks 6, 7 and 8 and the surrounding areas of the Kwanza Shelf.
06 Apr 21
Angola: Eni announces a new light oil discovery in Block 15/06, offshore Angola
Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well has been drilled on the Cuica exploration prospect located inside the Cabaca Development Area and close to the Armada Olombendo FPSO (East Hub) pursuing the exploration opportunities in proximity of existing infrastructures (ILX, infrastructure-led exploration). The discovery is estimated to be between 200 and 250 million barrels of oil in place.
18 Mar 21
Angola: Ashtead Technology’s new partnership with Ocean Atlantic Petroleum secures Total E&P Angola contract
Integrated subsea technology and services specialist, Ashtead Technology entered into a co-operation agreement with inspection and asset integrity company, OAP. Leveraging their joint capabilities, Ashtead Technology has completed a multi-asset, Class-approved mooring inspection campaign for Total E&P Angola in the Girassol and Dalia fields, and has been awarded further work in the Pazflor and CLOV fields.

Angola - more news

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