This year’s Angola Oil & Gas conference features a Leadership Roundtable track, with sessions delving into opportunities in downstream projects, synergies through collaboration and the role of national oil companies in Africa
Angola has up to 29 block opportunities available for investment covering onshore, offshore and marginal fields. Targeting heightened foreign investment, these opportunities are already attracting the interest of global players. Concurrently, the government is making strides to expand the downstream industry to support growing demand in regional markets.
A Leadership Roundtable program during this year’s Angola Oil & Gas (AOG) conference (October 2-3) will connect companies to Angolan opportunities while delving into collaborative efforts between Angola and global partners.
As the second largest oil producer in sub-Saharan Africa and an emerging natural gas hub, Angola is seeing rising interest by international players seeking new opportunities in oil and gas. Efforts to diversify supply chains in markets such as Europe are leading to new export deals for Angola while European-based companies expand their presence across the country’s oil and gas basins.
Meanwhile, still ripe with frontier opportunities, Angola stands to gain a lot of insight from deepwater players such as Guyana, Brazil and the Netherlands as well as natural gas giants such as the UAE, Australia and Algeria. A panel discussion on Synergies through Collaboration: International Ventures in Angola’s Oil Sector will dive into Angola-global partnerships.
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; National oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry.
Angola is boosting energy security by developing three new refineries, increasing capacity to 400,000 bpd. The Cabinda Refinery will be commissioned by November 2024, followed by the Lobito Refinery and Soyo Refinery in 2025.
A $5 billion pipeline will connect Lobito to Lusaka, Zambia, and investments in LPG and CNG infrastructure are being promoted. AOG 2024’s panel discussion, “From Crude to Commerce” will explore Angola’s downstream opportunities.
Angola’s National Oil, Gas & Biofuels Agency is implementing 12 key measures to boost local participation in the oil and gas industry. As part of this initiative, the agency will continue to facilitate market access for local service companies, fostering greater inclusivity and growth in the sector.
The agency is also looking at creating a fund to support local content and the participation of Angolan service providers across the value chain. With a $60 billion investment pipeline planned for Angolan’s oil and gas sector over the next five years, the demand for local service providers is expected to grow, and during AOG 2024, a panel discussion will explore strategies for supporting market access and financing for local players. Titled A Seat at the Table: Access to Finance for Angolan Service Companies, the session is sponsored by insurance company Protteja Seguros.
Meanwhile, Angola plans to complete the privatization of its national oil company (NOC) Sonangol by 2026. Privatization aims to transform the company into a competitive operator while strengthening its capacity as an upstream partner.
With Angola set to maintain oil production at 1.1 million bpd until 2027 while unlocking new discoveries in deepwater, onshore and marginal fields, Sonangol is poised to play a more active role in upstream projects. A session titled The Role of the NOC in Unlocking Upstream Potential will explore how Sonangol’s transformation will support project development and partnerships in upstream oil and gas.
AOG 2024 features a multi-track program that offers a comprehensive overview of the country’s oil and gas value chain.
