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
| 18 Sep 23 |
Angola: Afentra announces publication of Admission Document and Notice of General Meeting Afentra has announced that regarding the proposed acquisition of interests in Block 3/05 and Block 3/05A from Azule Energy Angola Production and the amendment to the terms of the SPA with Sonangol to reduce the interest being acquired by Afentra in Block 3/05 from 20% to 14%, an Admission Document in relation to the Acquisition and Notice of General Meeting to approve the Acquisitions is available to download from the Company's website. |
| 08 Sep 23 |
Angola: KCA Deutag secures $60 million offshore drilling contract extension in Angola KCA Deutag, a leading drilling, engineering and technology partner, has secured a one-year contract extension, with a value of $60 million, for the provision of drilling operations and maintenance services on two offshore platforms in Angola. |
| 08 Sep 23 |
Angola: Corcel provides update on Tobias-13 well in Block KON-11 AIM-listed Corcel has received notice from the Operator Sonangol that the Tobias-13 well in Block KON-11 in Angola, where it has a 20% working interest (18% net), was spudded September 6th. |
| 04 Sep 23 |
Angola/Guyana: Oceaneering awarded contracts for Angola Block 17, Girassol Life Extension Project and a project in the Stabroek block, offshore Guyana Oceaneering has announced that its Offshore Projects Group segment has been awarded two international contracts, with combined total value in excess of $100 million. Oceaneering has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project, offshore Angola and a contract for work on a jumper installation project in the Stabroek block, offshore Guyana. |
| 01 Sep 23 |
Angola: Azule Energy and Equinor sign PSA for Block 31/2 offshore Angola The National Agency of Petroleum, Gas and Biofuels (ANPG) and Azule Energy, in partnership with Equinor, have signed a Production Sharing Agreement (PSA) for Block 31/21. The agreement, which results from the 2021/2022 Limited Offshore Licensing Round, is a significant stride towards advancing exploration in the Lower Congo Basin. |
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,
- Zimbabwe
