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
| 02 Jan 26 |
Angola: Chevron’s South N’dola Platform in Angola delivers first oil in December Chevron’s South N’dola Platform in Angola delivered first oil in December. The milestone comes just over two years after construction on the platform began. The South N’dola Platform is in Block 0, the abundant offshore reservoir in Angola that is responsible for 12% of the country’s daily energy output. |
| 15 Dec 25 |
Angola: Maurel & Prom and BW Energy have signed an SPA for the acquisition of Azule Energy’s interests in Blocks 14 & 14K offshore Angola BW Energy has in a consortium with Maurel & Prom signed an agreement to acquire a combined 20% non-operated interest in Block 14 and 10% in Block 14K offshore Angola from Azule Energy. The entry into Angola is a key step in BW Energy’s West Africa growth strategy and provides further diversification of it's resource base. |
| 10 Dec 25 |
Angola: Viridien announces new seismic reimaging program over Block 22 offshore Angola to support upcoming licensing round Viridien has announced a new multi-client seismic reimaging program over Angola’s highly prospective offshore Block 22 to support the country’s upcoming licensing round. |
| 08 Dec 25 |
Angola/Brazil: Corcel raises £3 million to support strategic activity on multiple fronts AIM-listed Corcel, the Angola-Brazil-focused energy company, has raised £3 million by way of an equity placing at £0.0035 per share. |
| 28 Nov 25 |
Angola: Eni inaugurates gas treatment plant in Soyo, Angola Eni, through its satellite company Azule Energy, has inaugurated the NGC Gas Treatment Plant in Soyo, northern Angola. The NGC project is Angola’s first non-associated gas development, with a processing capacity of approx. 400 million standard cubic feet of gas per day (MMscfd) and 20,000 barrels of condensate per day. |
Angola - more news
Other countries in this region
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- Chad,
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