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
| 23 Jun 26 |
Angola: TechnipFMC awarded Flexible Pipe Contract for Azule’s Greater PAJ Project TechnipFMC has been awarded a significant contract to supply flexible flowlines and risers by Azule Energy for the Greater PAJ development offshore Angola. TechnipFMC will design and manufacture flexible flowlines and risers to connect wells in water depths approaching 2,000 meters to a new floating production unit. |
| 23 Jun 26 |
Angola: Eni announces the Final Investment Decision for the Greater PAJ Project, the first integrated cross-block development offshore Angola Eni, through Azule Energy, announces the Final Investment Decision (FID) for the Greater PAJ Project, a major offshore oil development located in Blocks 31 and 31/21 offshore Angola. The project is operated by Azule Energy, the company equally owned by Eni and bp, and participated by Sonangol E&P and Equinor. |
| 22 Jun 26 |
Angola: Saipem awarded new offshore contract by Azule Energy for the Greater PAJ project in Angola worth a total of 1 billion USD Saipem has been awarded a new offshore contract by Azule Energy Exploration (Angola) and Azule Energy Angola, subsidiaries of an incorporated joint venture owned by Eni and bp, mainly for transportation and installation (T&I) services in support of the Greater PAJ project, located approx. 200 kms off the coast of Angola. The contract, with a duration of around 40 months, is worth 1 billion USD. |
| 16 Jun 26 |
Angola: Kent awarded Construction Management Services contract by CABGOC in Angola Kent, a global integrated engineering and project delivery company, has been awarded a contract by CABGOC (Cabinda Gulf Oil Company Limited) for Construction Management Services in Angola. |
| 27 May 26 |
Angola: Afentra awarded KON4 Licence onshore Angola Afentra, an upstream oil and gas company focused on acquiring production and development assets in Africa, has been formally awarded the Risk Service Contract ('RSC') for onshore Block KON4. The award of KON4 further strengthens Afentra's position in the onshore Kwanza basin and expands the Company's operated portfolio in Angola. |
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
