Connect with us
As the official platform where Angola’s entire oil and gas ecosystem will be discussed, this year’s edition of the Angola Oil & Gas (AOG) conference and exhibition { http://bit.ly/3UyBCpP} – which will run from November 29 – December 01 in Luanda – will feature an exploration panel titled, ‘The Next Wave of Exploration,’ whereby stakeholders will explore current trends as well as the challenges and best practices to optimize investment and the execution of upstream projects across the southern African country’s rapidly expanding hydrocarbons industry.
With Angola targeting to boost the exploitation of its vast hydrocarbon resources to ensure energy security, affordability and independence, the country’s hydrocarbons-rich basins – which remain largely unexplored and untapped despite the progress already made – as well as investor-friendly policies present a significant opportunity for global upstream companies seeking to invest and grow in a rapidly expanding oil and gas industry as well as a stable political and business environment.
To date, the Angolan government has taken strides to set up new rules of engagement to simplify and maximize the participation of upstream firms, restructured and established parastatals such as Sonangol and the National Agency for Oil, Gas and Biofuels (ANPG), and thereby prioritized new exploration campaigns to expand Angola’s upstream market.
As such, Angola’s exploration landscape is headed for a massive boom.
In this regard, AOG 2022 – as the official meeting place for Angola’s energy policymakers, companies and investors – represents the best platform for Angola’s key market players to meet with global companies and investors and discuss, negotiate and sign deals, with the dedicated exploration panel serving to only enhance this agenda.
Under the theme, ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola’, AOG 2022 will host high-level panel discussions and meetings, networking sessions, exhibitions and technical workshops to promote the massive exploration opportunities present across Angola’s upstream sector.
Keen to have a stake in one of Africa’s largest upstream markets?
Or interested in working alongside some of the world’s leading energy companies including TotalEnergies, Chevron, bp and ExxonMobil?
Secure your participation at AOG 2022 and network with key energy market decision makers.
Earlier this month, global energy major ExxonMobil – under its affiliate, Esso Exploration Angola – announced a discovery in the Bavuza South-1 well in Block 15 offshore Angola, an accomplishment which is set to reawaken new investment in Angola’s upstream oil and gas market.
Representing part of the energy major’s redevelopment plans for Block 15 – which currently serves as one of the longest-producing and most prolific blocks in Angola with potential recoverable resources of over four billion barrels of oil equivalent - which incorporates a multi-year drilling campaign, the discovery represents the first made in the country in 20 years.
With the discovery, a wave of new investment and development is expected in Angola as explorers from across the regional and international landscape look to reveal similar finds to that of ExxonMobil’s.
However, the attractiveness of Angola’s upstream market comes not only from the discovery but from the Government of Angola’s efforts to secure new investment via licensing rounds and the country’s premier event for the oil and gas industry: Angola Oil & Gas (AOG) 2022.
An Explorers Destination of Choice
While the ExxonMobil discovery has been instrumental in demonstrating the potential of Angola’s hydrocarbon basins, a series of other exploration campaigns currently underway are set to unlock the country’s oil and gas sector even further.
These campaigns, made possible by the Government of Angola’s ambitious upstream agenda which saw the launch of a six-year licensing round in 2019, has not only laid the foundation for robust growth across the market but invited new players and investment into Angola.
The most recent bid round – offering eight offshore blocks in the Lower Congo and Kwanza Basins – piqued the interest of a suite of explorers, with bids submitted by energy majors Eni, TotalEnergies, Equinor and more.
Hoping to mirror the success of ExxonMobil’s most recent discovery, if approved, these projects could be instrumental in unlocking new investment in Angola’s hydrocarbons sector.
According to the national regulator, the National Agency for Oil, Gas and Biofuels (ANPG), potential initial investment commitments are expected to reach $58.6 million to ensure the execution of the minimum work program with this round.
Reaffirming the country’s attractiveness as an upstream play, the ANPG has also been responsible for the launch of a revised Hydrocarbon Exploration Strategy 2020-2025 – centered on heightening research and evaluation activities in sedimentary basins, expanding geological knowledge of new and existing hydrocarbon reserves and successfully allocating oil concessions in line with Presidential Decree 51/29.
During the 2020-2025 period, the strategy expects to mobilize $850 million in upstream investment.
Coupled with the licensing round, the strategy is expected to improve regional and international players' understanding of the market, thereby incentivizing new investment and participation.
AOG 2022 Connects Explorers with Opportunities
What’s more, the discovery could not come at a better time for Angola’s oil and gas industry.
At the end of this month, the third edition of the AOG conference and exhibition – organized by Energy Capital & Power under the auspices of the Ministry of Mineral Resources, Petroleum and Gas of Angola - will take place in Luanda, Angola, uniting Angolan stakeholders, policymakers and companies with global investors and project developers.
Under the theme, ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola,’ the event aims to unlock new investment across Angola’s upstream market in a bid to revitalize the sector and bring new supplies to a region in serious need of energy.
One of the central points of discussion at the event will be Angola’s rapidly expanding E&P market and the impact new discoveries will have on the wider economy.
With a suite of exploration companies having already secured their participation at the event, AOG 2022 is set to lay the foundation for robust upstream growth on the back of aligned agendas and partnerships.
Interested in exploring Angola’s high potential upstream market?
Or are you looking at securing new partnerships with E&P players active across the Angolan energy landscape?
Join AOG 2022 and be part of the conversation on Angola’s E&P future.
With over 600 million people currently lacking access to electricity and 900 million people without access to clean cooking solutions, coupled with the fact that Africa as a continent faces the worst effects of the climate crisis, there has never been a more pressing time to invest in Angolan oil and gas.
For its part, the country’s resources hold the key for widespread electrification, climate mitigation and sustainable economic growth, and with accelerated investment in these resources, not only Angola but Africa has the potential to both develop and thrive as an economy.
It is within this context that the Angola Oil & Gas (AOG) conference and exhibition emerges.
Scheduled to take place in Luanda from November 29 to December 1, the third edition of the event will see AOG 2022 emerging as not only the biggest energy conference in the country but the biggest to take place in Africa post-COP27.
Its significance, therefore, cannot be understated, and at a time when urgent investment is needed in Angola, the event is set to lay the foundation for robust discussions, lucrative deals and new capital commitments that will transform Angola’s energy landscape for the better.
Building on the theme of ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola,’ AOG 2022 will awaken new opportunities for partnerships and dialogue, thereby making a strong case for Angolan investment while setting the tone for other energy-related discussions across other African events in 2022 and beyond.
Its role as a forum comes not only from its position as the country’s premier energy event but as the first and biggest energy conference taking place post-COP27.
Taking place merely a week after COP27 concludes, AOG 2022 represents the platform of choice for policymakers, energy leaders and public and private sector executives to discuss the impacts of decisions made during the climate summit.
With this year’s summit placing more emphasis on the role fossil fuels play in the world’s energy future, and African representatives delivering a strong argument for the development of these resources for the good of Africa, AOG 2022 will build on while strengthening this narrative, placing oil and gas investment and development at the center of all discussions.
Why Angola?
To date, Angola’s proven oil reserves stand at 8.5 billion barrels of oil while its proven natural gas reserves stand at 11 trillion cubic feet, and while significant progress has been made to develop these resources, much more needs to be done from both an investment and participatory standpoint.
With the aim of unlocking the true potential of the country’s oil and gas sector, the Government of Angola, through the national oil company Sonangol and the national regulator, the National Agency for Oil, Gas and Biofuels (ANPG), has introduced a six-year licensing round in 2019, offering 50 up for exploration in the hopes of accelerating upstream activities; implemented a series of structural and policy reforms to reawaken new investment in the already competitive market; while offering new rules of engagement, reductions in E&P approval timelines and petroleum tax revisions to secure the participation of a range of international companies.
“Under the leadership of both the President, João Lourenço, and the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, the country continues to witness unprecedented growth across the entire energy value chain, owing largely to the efforts undertaken by the minister and president to establish both and enabling an increasingly competitive environment for investment.” NJ Ayuk, the Executive Chairman of the AEC
“Now, in 2022, the country has emerged as the destination of choice for project developers and financiers, and leveraging the significant untapped resources available, Angola is set to awaken a new era of investment and development, all thanks to President Lourenço and Minister Azevedo’s strong development drive.” Concluded Ayuk
Building on the reforms implemented, AOG 2022 will provide insight into the country’s regulatory and legal landscape, paving the way for heightened collaboration between local and global stakeholders while unlocking new levels of investment across the entire energy value chain.
In partnership with the Ministry of Mineral Resources and Petroleum and the African Energy Chamber, the event welcomes the participation of a suite of local, regional and international stakeholders.
As the country’s official gathering for energy stakeholders and the biggest energy event on the continent post-COP27, AOG 2022 represents a not-to-be-missed energy event.
Secure your participation at AOG 2022 and be part of the conversation on Angola’s energy future.
For more information, visit http://bit.ly/3UyBCpP
Belarmino Chittargueleca, Executive Director of Angola's national concessionaire and upstream regulator, the National Agency for Oil, Gas and Biofuels (ANPG), announced a series of changes and innovations, including drastic cuts in approval times, at the African Oil, Gas and Biofuels Week. Energy (AEW) (www.AECWeek.com) Conference and Exhibition 2022 in Cape Town. These changes show a better business environment for oil and gas in Angola.
Under the theme 'A new concessionaire offers a new way of doing business', Chittargueleca gave a presentation on the current state of the Angolan oil and gas industry, stating that the regulator managed to reduce bureaucracy and streamline approval processes for the industry.
During his presentation it was noted that negotiations for exploration licenses are expected to begin and conclude in less than 12 months.
“We have mature assets with great potential, a stable political environment and many companies with experience that are still there,” Chittargueleca said during a panel discussion at AEW 2022, adding that “The Government has established new regulations and policies to make our country is competitive and we are carrying out a study on how to stay competitive in order to increase exploration partners and investments.
At the regional level, we will be sharing information with our brothers on how to boost exploration.
We are ready to negotiate also with interested investors to maximize investments throughout the industry and make Angola the final destination for energy capital.
Previously, it took 18 months to close a deal, but now with the reforms enacted, it will take less than a year to sign new E&P deals.” https://bit.ly/3W4xM8B Offering a new governance model for Angola's oil and gas sector, the ANPG introduced legal and fiscal reforms, including Presidential Legislative Decree 5/18 for further exploration of development areas and production; Presidential Legislative Decree 6/18 for the development of marginal fields; Presidential Legislative Decree 7/18, which establishes the legal and tax framework applicable to natural gas; Presidential Decree 51/19 for the general bidding strategy for oil and gas concessions between 2019 and 2025; and Presidential Decree 249/21, which establishes the rules and procedures for the granting of oil concessions under permanent offer.
Fully committed to the development of sustainable hydrocarbon resources that support the energy transition, the ANPG approved a strategy to assign more than 50 blocks in the next six years to promote the exploration and production of the existing oil and gas fields in the country.
Angola currently has 16 concessions in the production phase, 11 concessions in the exploration phase, four deepwater concessions in the development phase and 20 concessions, 15 onshore and 5 in deepwater, under negotiation.
Additionally, the southern African country has 15 blocks on continuous bidding with the goal of awarding an additional 12 onshore blocks during the 2023 bidding cycle.
It returns to Luanda for its third edition under the auspices of the Minister of Mineral Resources, Oil and Gas, SE Diamanto Pedro Azevedo, and in collaboration with the National Agency for Oil, Gas and Biofuels (ANPG) (https://bit.ly/ 3SvnWKn), AIDAC and the African Chamber of Energy (https://bit.ly/3Q34QcU), the Angola Oil & Gas (AOG) 2022 Conference & Exhibition (https://bit.ly/3UyBCpP) will provide exciting programming from panel discussions, presentations, investor forums, and exhibits that advance the industry.
Here are five reasons to attend this year's edition in Luanda.
Networking Opportunities Serving as a business-friendly environment by bringing together the region's top government leaders and business executives for three days of negotiation and networking, AOG 2022 not only promotes a wide range of opportunities present in the country in southern Africa, but represents the official engagement and networking platform through which investors and players can be directly introduced to such opportunities.
As such, AOG 2022 enables stakeholders from every part of the energy value chain to interact, network and foster business development, and this year's conference enables participants to capitalize on new business and investment opportunities across the Angolan and regional energy value chain.
Driving investment With a focus on driving investment in Angola, AOG 2022 represents the premier venue for signing deals in Angola and the southern African region, thereby expanding business opportunities for the country's energy future.
As the country strives to capitalize on its vast natural resources and achieve fuel independence through large-scale investments across the entire energy value chain, attendees will have the opportunity to participate in projects that drive an effective business environment.
and equitable.
Establish partnerships Being held in partnership with the Angolan Ministry of Mineral Resources, Oil and Gas, AOG 2022 will facilitate cooperation and collaboration between various sectors within the Angolan energy industry, including the oil and gas, renewable energy, mining , trade, industry and construction, thus ensuring that delegates receive access to key opportunities and potential partnerships.
The attendance of government officials and public sector representatives will provide an unrivaled platform for investors to engage in Angola's burgeoning energy industry while driving the energy transition in the region.
Participate in industry innovation In line with the theme of the conference, Promoting an inclusive, attractive and innovative oil and gas industry in Angola, the energy landscape of Angola will represent the ideal place for investment and partnerships in expansion of sustainable energy and industry innovation.
As the country transitions to cleaner energy sources, opportunities have arisen within the application of new technologies, with a young and capable workforce, and new business and investment opportunities in the renewable energy space.
In addition, the Angolan Ministry of Mineral Resources, Oil and Gas plans to strengthen the country's oil and gas refining capacity to meet domestic energy demand while reducing energy imports and maximizing the monetization of energy resources.
for regional and global markets, there are new projects on the horizon.
as the country seeks to capitalize on its new position as Africa's largest oil producer.
Showcasing success The AOG 2022 exhibition platform will provide an opportunity for industry players to showcase their successes both in Angola and throughout the regional energy space.
Along with panels, keynote presentations and networking workshops, AOG 2022 will encourage attendees to engage in examining the latest products, services, activities, trends and opportunities present in the Angolan oil and gas industry.
For more information on AOG 2022, visit https://bit.ly/3UyBCpP
The introduction of more rounds of oil and gas exploration and production licenses in Africa will enable the continent to make significant new discoveries, increase hydrocarbon production and fully utilize the continent's wide range of energy resources to address energy poverty and accelerate economy. increase.
Although oil and gas production in Africa has increased over the past two decades, declines are anticipated in the coming years due to production cutbacks from legacy projects, a lack of new exploration in recent years, and inadequate investment across the region. value chain in the main hydrocarbon producing countries such as Nigeria, Algeria, Libya, Angola and Egypt. On the gas front, even though Africa has enough supply to meet 2022-2023 demand due to new projects like Mozambique's Coral floating liquefied natural gas (LNG) and Nigeria's LNG Train 7 projects being online, production declines in Algeria, Nigeria, Libya and Egypt will strain the supply chain from 2025. Egypt, for example, is expected to see a decline in production of 74 billion cubic meters (bcm) in 2022 to 50 bcm by 2030, unless major discoveries are made and brought online quickly. On the other hand, the oil sector will also witness production declines with Algeria, one of Africa's top oil producers, already starting to record production cuts. Nigeria, the largest producer of crude oil in Africa, will also see a decline from 2023, while production in Sudan, South Sudan and other West African countries will also be affected.
For Africa to mitigate these declines, the continent will need to boost investments in the upstream sector. Recognizing the need to expand upstream activities, many countries on the continent have introduced bidding rounds for licenses in both emerging and frontier markets, creating the opportunity for regional and international companies to participate in high-potential basins.
In particular, a 2021 license round submitted by the Tunisian Ministry of Energy in which contracts are expected to be awarded in 2022 for four oil exploration licences. In addition, Angola, through the National Agency for Oil, Gas and Biofuels (ANPG) also opened a tender in 2021 for tenders in Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43 in the Basin of Namibe, and in Block 10 in the Benguela Basin.
Furthermore, the results of some 14 exploration license rounds expected to be announced in 2022 across the continent are testament to the increased focus of African hydrocarbon-producing countries on increasing activities within the upstream sector. Other license rounds planned to be introduced in 2022 and 2023 include those for Côte d'Ivoire, Senegal, Algeria, Congo, Sudan, South Sudan, Somalia, Uganda and Kenya.
"Increased activities within Africa's upstream segment will boost oil and gas production and allow the continent to fully monetize its energy resources for economic growth while also meeting demand in other regions such as Europe and Asia." , stated Tomás C. Gerbasio, the director of strategy and business development at African Energy Week added that "what Africa needs now is to develop attractive regimes for capital, introduce more rounds of licenses and increase investments in new exploration and production projects ".
The ACS's annual investment summit, African Energy Week (AEW), taking place in Cape Town from October 18-21, 2022, will discuss measures preventing Africa from expanding its upstream oil and gas market. and how they can be addressed. AEW 2022 will host presentations, high-level meetings and panel discussions on how Africa's leading and emerging hydrocarbon producing countries can attract investment to boost exploration and production activities. AEW will unite governments, investors and companies within the entire continent's oil and gas market and thereby provide a platform for rounds of oil and gas licensing and exploration and production agreements to be discussed and signed.
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.
