Latest news with #Sonangol
Zawya
21-07-2025
- Business
- Zawya
Sonangol Joins Angola Oil & Gas (AOG) 2025 as Diamond Sponsor Amid Bold Development Drive
Angola's national oil company (NOC) Sonangol has joined the Angola Oil&Gas (AOG) conference as a Diamond Sponsor. The company's participation comes as it implements a bold development drive in Angola, targeting new exploration opportunities, increased production and 445,000 barrels per day (bpd) in refining capacity. Sonangol's sponsorship reflects a broader commitment to using oil and gas as a catalyst for development in Angola and is expected to unlock new pathways for global collaboration. Producing upwards of 200,000 bpd in oil and gas and supplying the market with 5.4 million metric tons of refined products, Sonangol is an instrumental part of Angola's oil and gas market. The company has stakes in 35 concessions, of which nine are operated, and has positioned itself as the partner of choice for upstream players. Sonangol is in the process of transforming itself from an NOC into a competitive upstream player. The company reaffirmed its plan to launch an Initial Public Offering, with 30% of the company's shares set to become available. The partial privatization is not only expected to generate capital to support exploration and production projects, but strengthen Sonangol's role as a major upstream operator in Angola. The anticipated IPO comes as Sonangol advances a series of major oil and gas projects in collaboration with international partners. These include the Agogo Integrated West Hub Development, on track for production by late-2025 and adding 120,000 bpd to the market, as well as the Kaminho deepwater development. Kaminho achieved a final investment decision in 2024 and will start operations in 2028. With the country striving to sustain oil production above one million bpd, Sonangol is also pursuing new development opportunities in Angola, working closely with international operators to unlock new resources. Notably, the company signed a memorandum of understanding with Brazilian state-owned multinational corporation Petrobras in May 2025, covering research and development activities. The agreement follows another deal signed in March 2025 between the companies, outlining the joint study of offshore acreage in Angola. Meanwhile, in pursuit of enhanced fuel security, Sonangol plans to increase refining capacity to 445,000 bpd through the development of three new facilities – set to complement the operational 65,000 bpd Luanda refinery. The first of these – the first phase of the 60,000 bpd Cabinda refinery – is coming online in 2025, while Sonangol is currently seeking $4.8 billion to address the funding shortfall for the Lobito refinery – a 200,000 bpd facility under construction. A 100,000-bpd facility is also planned in Soyo. The Cabinda facility alone is anticipated to reduce Angola's derivative imports by 14% by 2026. Beyond these projects, Sonangol has committed to strengthening skills development across the Angolan oil and gas sector. The company signed two agreements with Massachusetts Institute of Technology (MIT) in the United States (US) in June 2025, aimed at supporting the development of Angola's natural and mineral resources by leveraging US research, innovation and technology. The first agreement was signed with MIT Industrial Liaison Program, enabling Sonangol to directly interact with MIT research areas to support projects across the energy, mining, engineering, construction and infrastructure industries. The second agreement, MIT Africa, will facilitate knowledge-exchange, staff training, joint research and academic mentoring. MIT Africa features two programs – Global Classroom and Global Teaching Labs – which allow Angolan educational institutions to collaborate with MIT. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
21-07-2025
- Business
- Zawya
Angola Oil & Gas 2025 Launches Exhibition-Only Passes
The Angola Oil&Gas (AOG) Conference&Exhibition returns as the premier platform for the country's hydrocarbon industry. Convening operators, financiers, service providers and technology experts in Luanda on September 3-4, 2025, the event represents the largest of its kind in the country. This year's edition reintroduces exclusive exhibition-only passes, offering strategic access to the exhibition floor. Striving to sustain oil production above one million barrels per day, Angola is driving a series of ambitious oil projects, from frontier exploration to incremental production to brownfield drilling and seismic data acquisition. At the same time, the country is pursuing advanced gas development opportunities, in line with goals to balance hydrocarbon production with a transition to low-carbon fuels. This strategy has created a unique opportunity for operators, service providers, technology experts and research and development firms to deploy their innovative solutions across the market. This year's AOG 2025 exhibition will showcase these solutions, with companies from across the entire oil and gas value chain featured on the exhibition floor. This year's AOG 2025 will feature Sonangol as a diamond exhibitor. As the country's national oil company, Sonangol is spearheading efforts to increase oil production, advance gas development while decarbonizing the industry. Additionally, the event will feature the following platinum exhibitors: Etu Energias Labman The AOG 2025 gold exhibitors include: Azule Energy ENSA EY Kotoil Energy Cabship Sonamet Alfort Petroleum Meanwhile, silver exhibitors include: Petrotec Group 3S Service ACE Energy Oceaneering Easy People AES ITGEST Bronze exhibitors include: Algoa Cabinda Services Cabinda Refinery Petrofund Africa Global Logistics AOG 2025 will also feature a range of other exhibitors, showcasing innovation, technology and multi-faceted oilfield service solutions. Don't miss out on this unique opportunity to join the AOG 2025 conference. Visit or contact sales@ for more information. Passes are selling out fast – secure yours before it's too late. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
16-07-2025
- Business
- Zawya
Angola Oil & Gas (AOG) 2025 Panel to Assess Onshore, Shallow Water Prospects in Angola
Angola – one of Africa's leading deepwater producers – is making a strong play for onshore exploration, leveraging its multi-year licensing strategy and flexible investment structures to entice new players to invest in onshore projects. On the back of a licensing round which concluded in 2024, the country is witnessing a surge of investment onshore, unlocking new opportunities for production growth as Angola strives to sustain output above one million barrels per day. A panel discussion during the Angola Oil&Gas (AOG) conference will examine the impact ongoing onshore and shallow water projects will have on Angola's production portfolio. Titled The Role of Onshore and Shallow Water Operations in Maintaining Production, the session will feature companies active in the onshore market and will delve into the strategic significance of onshore assets in maintaining output and maximizing resources in Angola. Speakers include Ricardo Van-Deste, CEO, Sonangol E&P Edson dos Santos, CEO, Etu Energias; George Toriola, Chief Strategy Officer, FIRST E&P Gianni Martins, General Manager, Alfort Petroleum; and Scott Gilbert, CEO, Corcel. The 2024/2025 period has seen robust growth across Angola's onshore market as companies invest in drilling and data acquisition in pursuit of new discoveries. In May 2025, Etu Energias signed a Risk Service Contract for Block CON 4 in the onshore Congo basin, granting the company operatorship with 67.5%. The agreement covers a 25-year operating license, with five years allocated for exploration and 20 years for production. The agreement follows two separate deals signed by Corcel in May 2025 for the accelerated development of Block KON 16 in the Kwanza basin. The agreements saw Corcel enhance its stake in the block to 71/5% through transactions signed with Intank Global DMCC and Sintana. Proceeds from the transactions will support de-risking and exploration activities planned for 2026. Corcel completed the data acquisition phase of KON 16 in 2024. Alfort Petroleum is also pursuing onshore exploration, following its qualification as an operator under the country's 2023 licensing round. The company operates Block KON 8 and is currently interpreting seismic data at the block. Meanwhile, while FIRST E&P is not yet active in Angola, other Nigerian players have recently expanded into the country, showcasing the potential for Nigerian players in Angola's onshore market. Notably, Nigeria's Walcot Group signed a production sharing contract in April 2025 for three onshore blocks in Angola. These include a 100% equity interest and operatorship of Block KON 1; a 100% equity interest and operatorship of Block CON 3; and a 10% non-operating interest in Block KON 13. Oando Energy Resources – another Nigerian firm – entered the Angolan market in January 2025, gaining operatorship of Block KON 13. The block has two exploration wells previously drilled, with oil and gas identified across various depths. Effimax and Sonangol represent partners on the block. Recent onshore investments are largely due to Angola's 2023 licensing round, which featured 12 blocks for exploration in the Lower Congo and Kwanza basins. Nine companies qualified as operators while five qualified as non-operators. Since the conclusion of the round, the country's upstream regulatory the National Oil, Gas&Biofuels Agency has since received proposals from three international companies for nine blocks that were not awarded during the 2023 tender. This underscores the level of interest in Angola's onshore acreage, laying a strong foundation for future discoveries. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
24-06-2025
- Business
- Zawya
ACE Energy Group Expands Angola Portfolio, Joins Angola Oil & Gas (AOG) 2025 as Silver Sponsor
Nigerian energy service company ACE Energy Group has joined the Angola Oil&Gas (AOG) conference – taking place September 3-4 in Luanda - as a Silver Sponsor. Offering a comprehensive suite of services catered to the oil and gas industry, ACE Energy Group has been expanding its presence in Angola's upstream market in recent years. The company's AOG 2025 sponsorship reflects its commitment to developing Angola's onshore market as ACE Energy Group pursues new asset acquisitions in Angola. Building on its experience in Nigeria, ACE Energy Group is targeting new onshore blocks in Angola. The company was one of several firms that submitted proposals to Angola's upstream regulator the National Oil, Gas&Biofuels Agency in February 2025 for operatorship of nine blocks in the onshore Kwanza basin. The blocks were initially promoted under Angola's 2023 bid round but not awarded during the licensing process. The proposals align with the government's broader strategy of attracting new players to the market as the country strives to sustain oil production above one million barrels per day. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ Through licensing rounds and direct negotiation with operators, Angola aims to revitalize onshore production. ACE Energy Group was named operator of onshore Block CON 8 under Angola's 2023 licensing round, which closed early-2024. Situated in the onshore Lower Congo basin, Block CON 8's previous exploration activities were conducted in the early 1970s, with four wells drilled: Quinzau-1, Quinzau-2, Ngondo-4 and Ngondo-7. A 2D seismic survey was also conducted, partially covering the northern part of Block CON 8. Structures with possible hydrocarbon accumulation at pre-salt and post-salt levels were identified, showcasing estimated prospective resources of between 870 and 1,909 million barrels of oil. With ACE Energy Group attaining operatorship, new exploration and development opportunities are on the horizon. ACE Energy Group's sponsorship of AOG 2025 will support the company's exploration strategy in Angola. As the largest industry event in the country, AOG 2025 unites stakeholders from across the oil and gas value chain, from upstream operators and financiers to service and technology providers to downstream developers and associated sub-sectors. The event offers a unique platform for companies to engage in dialogue and sign deals, thereby advancing exploration efforts across the country. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
20-06-2025
- Business
- Zawya
Angola Strengthens United States (US) Energy, Mineral Ties with Sonangol-Massachusetts Institute of Technology (MIT) Cooperation Agreements
Angola's national oil company Sonangol has signed two agreements with the Massachusetts Institute of Technology (MIT) – a private university based in Boston, United States (US) – aimed at strengthening cooperation and knowledge-transfer in the fields of oil, gas and critical minerals. The agreements – dubbed the MIT Industrial Liaison Program (MIT-ILP) and MIT Africa – seek to strengthen US-Africa ties by facilitating greater collaboration and skills development opportunities. The African Energy Chamber (AEC) – the voice of the African energy sector – commends Angola and Sonangol for forging this strategic alliance with one of the world's leading innovation institutions. The AEC believes partnerships of this nature are vital to accelerating Africa's energy transition while equipping the next generation of African professionals with the skills and knowledge required to drive industrial growth, energy security and sustainable resource development. The agreements were signed by Sonangol CEO Sebastião Gaspar Martins and MIT Executive Vice President Glan Shor during a meeting presided over by Angola's Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo. A core focus of the meeting and the subsequent agreements was to explore opportunities to support Angolan resource development by leveraging global research, innovation and technology. With goals to increase oil production, diversify the industry through innovative gas projects and advance the development of alternative energy sources such as green hydrogen, Angola has committed to working with global partners to transform ideas into solutions. The agreements serve as catalyst for these objectives by laying the foundation for bilateral research and development. Under MIT-ILP, Sonangol and MIT will work together to develop strategic industries such as energy, mining, engineering, construction and infrastructure. According to Minister Azevedo, this program will enable Sonangol to directly interact with MIT research centers in key areas, thereby accelerating innovation in the oil sector while facilitating a just energy transition. Minister Azevedo shared that visiting MIT showed the Angolan delegation how applied research is closely linked with humanity's real challenges – notably, clean energy, artificial intelligence, resilient infrastructure and digital transformation. MIT-ILP will support the development of Angolan expertise and innovation. Meanwhile, MIT Africa features two programs - Global Classroom and Global Teaching Labs - aimed at facilitating knowledge-exchange, staff training, joint research and academic mentoring. Both the Global Classroom program and Global Teaching Labs program allow Angolan educational institutions to tap into US expertise, with the aim of supporting skills development in Angola. Among the Angolan institutions that will directly benefit from this cooperation are the Instituto Superior Politécnico de Tecnologias e Ciências and the Sonangol Research and Development Center. These institutions will be at the forefront of implementing these innovative programs. 'Through these mechanisms, Angola will be able to benefit from innovative teaching methodologies and collaborative experiences that value national talent and promote the internationalization of our higher education,' Minister Azevedo shared. 'These agreements are more than protocols: they are commitments with concrete impact in the short, medium and long term, in the fields of advanced training, scientific research, technological development, energy transition, decarbonization and industrial innovation. I believe that Angola's future is built on knowledge, serious partnerships and strategic vision.' The agreements come as Angola and the US take concrete steps to deepen strategic partnerships within the oil, gas, critical mineral and renewable energy sectors. Meetings held by Minister Azevedo and the US Secretary of Energy Chris Wright this week highlighted areas of cooperation, with the parties committing to working together to achieve a balanced energy transition. Future cooperation will be largely built on the success American companies have had in Angola as well as cooperation in new industries such as critical minerals, renewable energy and infrastructure. In the oil and gas space, companies such as ExxonMobil and Chevron continue to make significant strides towards unlocking greater exploration and production opportunities. ExxonMobil has recently extended its license for Angola's Block 17 – one of the country's longest-producing assets – in partnership with TotalEnergies. The company is also seeking play-opening discoveries in the offshore Namibe basin while drilling new wells under the country's Incremental Production Initiative. Chevron is making in-roads in the natural gas sector with its stakes in the Angola LNG plant and upstream gas projects. In late-2024, the company started production at the Sanha Lean Gas Connection project, which increases feedstock for Angola LNG – supporting exports. Chevron also has stakes in the New Gas Consortium, the operator of Angola's first non-associated project, coming online in late-2025. Leveraging the expertise of these players and strengthened cooperation in research and development, Angola is well-positioned to realize its industry goals. Distributed by APO Group on behalf of African Energy Chamber.
