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
| 06 Jan 25 |
Angola: Red Sky Energy signs landmark contract for Block 6/24, offshore Angola Red Sky Energy has advised that the Angolan National Agency for Oil, Gas and Biofuels (ANPG) and Red Sky signed a Risk Service Contract (RSC) on 31 December 2024 for offshore Block 6/24 in partnership with ACREP and Sonangol E&P). Block 6/24 is located in an area with several oil discoveries and high prospectivity. |
| 07 Nov 24 |
Angola: Afentra announces operational and financial update Afentra, the upstream oil and gas company focused on acquiring production and development assets in Africa has provided an operational and financial update for the period 1 January to 31 October 2024. |
| 28 Oct 24 |
Angola: Shearwater awarded second Angolan OBN survey by TotalEnergies Shearwater Geoservices has secured its second award from TotalEnergies for an Angolan OBN project. This follows the recent award of a project at Block B32 on October 9, 2024. The three-month deepwater OBN survey at B20/11, covering the Golfinho and Cameia fields, will utilise the Shearwater OBN platform comprising of the Pearl node and the company’s fit for purpose dual ROV-equipped SW Tasman. |
| 09 Oct 24 |
Angola: Shearwater to embark on significant new Angolan OBN survey for TotalEnergies Shearwater Geoservices has announced the award by TotalEnergies of an Angolan OBN project. The work will be performed in Block 32 over the Louro and Mostarda fields where Shearwater previously completed a 4D streamer survey for TotalEnergies. |
| 10 Sep 24 |
Angola: Corcel provides update on Block KON-16 in the Kwanza Basin, onshore Angola AIM-listed Corcel, the pan Angola-Brazil focused exploration and production company, has announced that the its contractor, Metatek Group, has completed the acquisition of data phase of the Enhanced Full Tensor Gradiometry Survey ('eFTG') on Block KON-16. |
Angola - more news
Other countries in this region
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- Bahrain,
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- 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),
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- Iran,
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- Israel,
- Jordan,
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- Lebanon,
- Liberia,
- Libya,
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- Malawi,
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- Tanzania,
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- Tunisia,
- Uganda,
- United Arab Emirates,
- Western Sahara,
- Yemen,
- Zambia,
- Zanzibar,
- Zimbabwe
