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
| 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. |
| 01 Sep 26 |
Angola: Chariot increasing economic exposure to oil-producing assets offshore Angola AIM-listed Chariot, the Africa focused energy group, has announced that it is supporting Etu Energias, the leading Angolan private E&P company, in its acquisition of an additional 31% working interest in Block 14 and 15.5% interest in Block 14K, offshore Angola. |
| 31 Aug 26 |
Angola: BW Energy signs framework agreement for strategic entry into Angola through interests in producing Block 14 and Block 14K BW Energy has signed a framework agreement with Etu Energias and Chariot Limited to support Etu’s 31% interest in Block 14 and 15.5% interest in Block 14K, two producing deepwater licences offshore Cabinda, Angola. Etu, Angola’s largest privately owned energy company, has signed a Sale and Purchase Agreement (SPA) with Chevron for the acquisition. |
Angola - more news
Other countries in this region
- Algeria,
- Bahrain,
- Benin,
- Botswana,
- Burundi,
- Cameroon,
- Central Africa Republic,
- Chad,
- Comoros,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Djibouti,
- Egypt,
- Equatorial Guinea,
- Eritrea,
- Ethiopia,
- Gabon,
- Gambia,
- Ghana,
- Guinea (Republic),
- Guinea Bissau,
- Iran,
- Iraq,
- Israel,
- Jordan,
- Kenya,
- Kuwait,
- Lebanon,
- Liberia,
- Libya,
- Madagascar,
- Malawi,
- Mali,
- Mauritania,
- Mauritius,
- Morocco,
- Mozambique,
- Namibia,
- Niger,
- Nigeria,
- Oman,
- Palestine,
- Qatar,
- Rwanda,
- Sao Tome,
- Saudi Arabia,
- Senegal,
- Seychelles,
- Sierra Leone,
- Somalia,
- Somaliland,
- South Africa,
- South Sudan,
- Sudan,
- Syria,
- Tanzania,
- Togo,
- Tunisia,
- Uganda,
- United Arab Emirates,
- Western Sahara,
- Yemen,
- Zambia,
- Zanzibar,
- Zimbabwe
