Middle East / Africa

Angola flag
Summary | Profile

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

17 Sep 20
Angola: DOF Subsea secures integrated FSV Contract in Angola
DOF Subsea has been awarded an integrated Field Support Vessel (FSV) contract with an international oil company in Angola. The project will utilise the Skandi Seven.
08 Sep 20
Angola: PGS completes 2020 acquisition in Angola’s Namibe Basin
Ramform Sovereign has completed a large acquisition project offshore Angola using multisensor GeoStreamer technology. The 2020 PGS Namibe Basin survey connects the 3D seismic coverage of southern Angola with PGS seismic data library coverage in Namibia, completing a large MultiClient footprint of high-quality broadband seismic data that spans the Namibe Basin.
18 Aug 20
Angola: Qatar Petroleum farms into offshore Angola Block 48
Qatar Petroleum has entered into a farm-in agreement with Sonangol, the national oil company of Angola, and Total to acquire a 30 percent participating interest in Block 48, located in the ultra-deep waters offshore Angola.
29 Jun 20
Angola Onshore Bid Round 2020 – Lower Congo Basin 2D seismic data availability
GeoPartners, in association with Trois Geoconsulting and DDMS, has announced the availability of existing 2D seismic data for viewing and licensing in advance of the Angola 2020 Bid Round.
01 Jun 20
Angola delays launch of onshore licensing round but releases data package
Angola's ANPG has delayed the launch of the onshore licensing round due to the COVID-19 pandemic, but has announced that the Data Package referring to the blocks for oil exploration in the Onshore Basins of the Lower Congo (CON1, CON5 and CON6) and the Kwanza (KON5, KON6, KON8, KON9, KON17 and KON20) is now available to all companies.

Angola - more news

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