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
| 12 Mar 26 |
Angola: Metatek-Group completes airborne survey of the Kwanza Basin in Angola to support onshore oil and gas exploration in the region UK-based geophysical company Metatek-Group has completed an airborne survey of the Kwanza Basin in Angola to support onshore oil and gas exploration in the region. It is the first time the basin has been surveyed with modern technology, offering new insights into the subsurface and the precise locations that hold the most potential for future drilling programmes. |
| 26 Feb 26 |
Angola: Corcel completes 2D seismic acquisition project at the operated KON-16 Block, onshore Angola AIM-listed Corcel, the Angola-Brazil focused energy company, has confirmed that it has now completed 100% of the 2D Seismic acquisition project at the operated KON-16 Block, within the Kwanza Basin, onshore Angola. The dataset provides clear imaging of key pre-salt structures and gives the Company increased confidence in advancing multiple de-risked pre-salt and post-salt drilling opportunities within KON-16. |
| 22 Feb 26 |
Angola: Eni announces the start-up of Ndungu full-field, operated by Azule Energy offshore Angola Eni has announced the start-up of the Azule Energy operated Ndungu full-field, part of the Agogo Integrated West Hub Project (IWH), in the western area of Block 15/06, offshore Angola. |
| 16 Feb 26 |
Angola: Eni confirms the significant oil discovery in Algaita-01, offshore Angola Eni confirms a significant oil discovery in the Algaita-01 exploration well in Block 15/06, offshore Angola, approx. 18 km from Olombendo FPSO. Preliminary estimates indicate oil in place of around 500 million barrels. |
| 11 Feb 26 |
Angola: TGS announces multi client 2D survey offshore Angola TGS, a global leader in energy data and intelligence, is pleased to announce the Ultra Profundo multi-client 2D survey offshore Angola. The survey covers approximately12,600 line kilometers and Ramform Victory commenced operations earlier in Q1. |
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
