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The African Energy Chamber (AEC) Commends Angola for its Upstream Achievements and Continuous Drive for Natural Gas

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  Backed by significant oil and gas resources market driven regulation and a push for an Africa focused energy transition Angola continues to make significant progress in improving energy access and security in Africa Led by the Ministry of Mineral Resources and Petroleum the national oil company NOC Sonangol and the national regulator the National Agency for Oil Gas and Biofuels ANPG the country is driving investment and development in multiple facets of the energy sector In 2022 and through upstream developments a push for natural gas and large scale energy events Angola will enter a new era of success in hydrocarbons serving as a model for other resource rich countries in Africa Although Angola enjoys the position as the third largest oil producer in Africa producing an average of 1 2 million barrels per day bpd in 2021 the country is determined to increase production by expanding exploration In particular the Ministry of Mineral Resources and Petroleum led by SE Diamantino Pedro Azevedo aims to harness the experience of both Sonangol and ANPG to grow the sector This has been done in two predominant ways First following Sonangol s restructuring in 2018 NOC handed over its concessionary role to ANPG allowing the company to reshape its focus on its capacity as an upstream operator In 2022 this has seen Sonangol expand its portfolio and put a number of high profile assets up for sale In the last week alone Sonangol announced the sale of two assets to new entrant Afentra and three blocks to Sirius and Somoil generating much needed revenue and allowing the NOC to focus on its role as operator Second through the introduction of licensing rounds Angola has improved the competitiveness of its upstream sector while presenting a strong case for investment In that sense in 2019 the ANPG launched a six year licensing round which generated 45 proposals with a total investment of 1 billion from fifteen companies in the 2020 licensing round More recently in February 2022 ANPG launched the third round of bidding in which the world oil majors including Eni TotalEnergies and Equinor submitted proposals The introduction of these rounds along with tax reforms including halving tax royalties and income tax for marginal discoveries have seen an increase in international penetration in Angola and HE Minister Azevedo has been instrumental in this way Meanwhile both HE Minister Azevedo and Sonangol have placed natural gas at the center of the country s development agenda Representing the fuel of the future in Africa the development of Angola s gas reserves could accelerate large scale electrification industrialization and income generation and thus Angola is focused on increasing investment in this high risk sector potential Efforts in this area have already been successful with Chevron announcing a final investment decision in January 2021 for the 480 million cubic foot pipeline that will transport gas from the Sanha Lean Gas project in Cabinda to the Luanda processing facility In addition with world supply interrupted by the current conflict between Russia and Ukraine Angola has positioned itself as the preferred supplier to European markets In April 2022 Angola signed an agreement with Italy to boost gas exports as the country seeks to reduce its dependence on Russian energy thus ensuring that Angola emerges as one of the world s leading exporters With significant developments underway in Angola s oil and natural gas sectors the country is more ambitious than ever to ensure that adequate investment is directed into these activities In this sense the ministry has made a strong commitment to investment in energy events in Africa and continues to do so and the country will host the 8th African Petroleum Congress and Exhibition CAPE VIII from May 16 to 19 2022 Organized by the African Organization of Petroleum Producers the Government of Angola and AMETrade CAPE VIII will take place under the theme Energy transition and the future of the oil and gas industry in Africa opportunities challenges and development As the voice of the African energy sector the ACS is proud to support the upcoming CAPE VIII and offers our full support both before and during the event The ACS supports the event and Angola and believes that CAPE VIII will play a critical role in driving investment and development in African energy while providing a platform for real and honest discussion on energy transition issues During CAPE VIII the Chamber will attend and lead a strong private sector delegation to Angola where we will promote local partnerships and local content while urging governments to fast track deals specifically gas related deals says NJ Ayuk Executive President of the ACE Angola is also set to play a leading role in the main energy event on the continent the African Energy Week 2022 which will take place from October 18 to 21 in Cape Town During the event HE Minister Azevedo will deliver a keynote address promoting Angola s upstream developments the country s drive for natural gas and future investment opportunities
The African Energy Chamber (AEC) Commends Angola for its Upstream Achievements and Continuous Drive for Natural Gas

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Ministry of Mineral Resources and Petroleum

Backed by significant oil and gas resources, market-driven regulation, and a push for an Africa-focused energy transition, Angola continues to make significant progress in improving energy access and security in Africa. Led by the Ministry of Mineral Resources and Petroleum, the national oil company (NOC), Sonangol, and the national regulator, the National Agency for Oil, Gas and Biofuels (ANPG), the country is driving investment and development in multiple facets of the energy sector. In 2022, and through upstream developments, a push for natural gas and large-scale energy events, Angola will enter a new era of success in hydrocarbons, serving as a model for other resource-rich countries in Africa.

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Although Angola

Although Angola enjoys the position as the third largest oil producer in Africa, producing an average of 1.2 million barrels per day (bpd) in 2021, the country is determined to increase production by expanding exploration . In particular, the Ministry of Mineral Resources and Petroleum, led by SE Diamantino Pedro Azevedo, aims to harness the experience of both Sonangol and ANPG to grow the sector. This has been done in two predominant ways. First, following Sonangol’s restructuring in 2018, NOC handed over its concessionary role to ANPG, allowing the company to reshape its focus on its capacity as an upstream operator. In 2022, this has seen Sonangol expand its portfolio and put a number of high-profile assets up for sale. In the last week alone, Sonangol announced the sale of two assets to new entrant Afentra and three blocks to Sirius and Somoil, generating much-needed revenue and allowing the NOC to focus on its role as operator.

TotalEnergies and Equinor

Second, through the introduction of licensing rounds, Angola has improved the competitiveness of its upstream sector while presenting a strong case for investment. In that sense, in 2019, the ANPG launched a six-year licensing round, which generated 45 proposals with a total investment of $1 billion from fifteen companies in the 2020 licensing round. More recently, in February 2022, ANPG launched the third round of bidding in which the world oil majors, including Eni, TotalEnergies and Equinor, submitted proposals. The introduction of these rounds, along with tax reforms including halving tax royalties and income tax for marginal discoveries, have seen an increase in international penetration in Angola, and HE Minister Azevedo has been instrumental. in this way.

Minister Azevedo and Sonangol

Meanwhile, both HE Minister Azevedo and Sonangol have placed natural gas at the center of the country’s development agenda. Representing the fuel of the future in Africa, the development of Angola’s gas reserves could accelerate large-scale electrification, industrialization and income generation, and thus Angola is focused on increasing investment in this high-risk sector. potential. Efforts in this area have already been successful, with Chevron announcing a final investment decision in January 2021 for the 480 million cubic foot pipeline that will transport gas from the Sanha Lean Gas project in Cabinda to the Luanda processing facility. In addition, with world supply interrupted by the current conflict between Russia and Ukraine, Angola has positioned itself as the preferred supplier to European markets. In April 2022, Angola signed an agreement with Italy to boost gas exports as the country seeks to reduce its dependence on Russian energy, thus ensuring that Angola emerges as one of the world’s leading exporters.

African Petroleum Congress and Exhibition

With significant developments underway in Angola’s oil and natural gas sectors, the country is more ambitious than ever to ensure that adequate investment is directed into these activities. In this sense, the ministry has made a strong commitment to investment in energy events in Africa, and continues to do so, and the country will host the 8th African Petroleum Congress and Exhibition (CAPE VIII) from May 16 to 19, 2022. Organized by the African Organization of Petroleum Producers, the Government of Angola and AMETrade, CAPE VIII will take place under the theme “Energy transition and the future of the oil and gas industry in Africa: opportunities, challenges and development”.

CAPE VIII

“As the voice of the African energy sector, the ACS is proud to support the upcoming CAPE VIII and offers our full support both before and during the event. The ACS supports the event and Angola and believes that CAPE VIII will play a critical role in driving investment and development in African energy while providing a platform for real and honest discussion on energy transition issues. During CAPE VIII, the Chamber will attend and lead a strong private sector delegation to Angola, where we will promote local partnerships and local content while urging governments to fast-track deals, specifically gas-related deals,” says NJ Ayuk, Executive. President of the ACE.

African Energy Week

Angola is also set to play a leading role in the main energy event on the continent, the African Energy Week 2022, which will take place from October 18 to 21 in Cape Town. During the event, HE Minister Azevedo will deliver a keynote address, promoting Angola’s upstream developments, the country’s drive for natural gas, and future investment opportunities.

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