Africa Oil & Power (AOP) has launched the 2020 Africa Energy Series Special Report on Angola as a resource for investors entering or expanding their presence in the country’s energy sector. The report provides a concise look at Angola’s investment opportunities still on track for development in the face of project delays caused by COVID-19.
It focuses primarily on upstream developments in Angola, including the 2020 oil and gas licensing round which, as of May 6, is still scheduled to take place; recent block extensions granted to major operators, including ExxonMobil, Chevron, and Total; the increase in the appraisal of estimated recoverable resources of ENI’s Agogo discovery; the installation of the Lifua-A platform to support oil and gas exploration in Block 0; and the establishment of the New Gas Consortium that represents Angola’s first upstream natural gas partnership.
According to AOP Acting CEO, James Chester, while COVID-19 continues to rattle the industry and stall energy developments across the continent, Angola boldly moves forward with a number of its large-scale, capital intensive projects, as explained in the Report. “While the current investment climate remains challenging for the oil and gas industry, sufficient and sustained FDI is required across the energy supply chain to not only survive the crisis in 2020, but also overcome it in 2021,” said the acting CEO.
An important investment promotion and information dissemination tool
Sergio Pugliese, President for Angola, African Energy Chamber noted that special reports like this one serve as an important investment promotion and information dissemination tool, which they celebrate from the African Energy Chamber. AOP’s presence in Angola, with the assistance of the African Energy Chamber, helps to promote the local oil and gas and energy sector via different means.
Within Angola’s developing downstream industry, the report provides updates on the planned construction of natural gas and hydropower plants across the country; the refurbishment of the Luanda refinery to quadruple its current production; and the tender for the construction of new refineries in Cabinda, Lobito, and Soyo.