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Subscriber

Reforming the oil and gas sector to attract investment and increase production has been a central priority of João Lourenço’s presidency. State oil and gas firm Sonangol boosted its earnings in 2018, fired by higher oil and gas export prices but serious problems face the company as it seeks to reverse production declines from maturing offshore assets.Sonangol’s 2018 annual report, published on 19 July, said total pre-tax earnings for the year accelerated to Kz1.1trn ($3.18bn), a 76% increase from the Kz625.2bn posted in 2017.

Angola
Subscriber

As well as developing the regulatory and legislative environment, the government has produced significant planning documents to guide developments in the power sector. The overarching strategy is laid out in the 207-page Angola Energia 2025, which includes demand planning, priority generation, transmission and distribution projects, energy mix scenarios and a resource atlas. Medium-term strategy is guided by the 2018-2022 Action Plan for the Energy and Water Sector.

Angola
Subscriber

There has been material progress reforming Angola’s opaque and nepotistic energy sector over the past year. Considerable work has gone into crafting new power sector regulations, and there have been notable changes to upstream licensing and the role of state oil and gas giant Sonangol, as well as important reforms to the downstream hydrocarbons sector. Investors and analysts canvassed by African Energy were impressed by the extent of the changes, although plenty of problems remain to be resolved.

Angola
Issue 396 - 12 July 2019

Angola: Fifth Laúca turbine online

Subscriber

A fifth 334MW turbine came online on 5 July at the Laúca hydropower plant. This means that five of the six turbines are now operating, with the last expected in H1 2020. A second powerhouse taking advantage of ecological flow will add 65.5MW, taking total installed capacity to 2,070MW. The $4bn plant is being built by Brazil’s Odebrecht, with Bardell and Andritz supplying electromechanical equipment. The first turbine began operating in August 2017 after five years of construction.

Angola
Issue 394 - 14 June 2019

Angola: Refinery contracts

Subscriber

Sonangol and Eni have announced a contract award to Italy’s KT-Kinetics Technology for two new refining process units to quadruple gasoline production at the Luanda refinery. KT is a subsidiary of Maire Tecnimont, which valued the contract, announced on 4 June at the Angola Oil and Gas Conference, at $200m. The scope of work includes engineering, procurement and construction activities for a naphtha hydrotreater and a catalytic reformer.

Angola
Subscriber

Angola has announced a licensing round offering nine blocks in the Namibe Basin and Block 10 in the Benguela Basin. The National Agency of Petroleum, Gas and Biofuels (ANPG) will hold a series of roadshows in Houston, London and Dubai in September before the bidding process opens on 2 October.“Our message to the global oil industry is simple: Angola is open for business.

Angola
Subscriber

Angolan President João Lourenço has sacked Carlos Saturnino as head of Sonangol, replacing him with Sebastião Gaspar Martins, who previously headed Sonangol P&P and Somoil. Angola has been hit by severe fuel shortages and the sacking of Saturnino and four board members appeared intended to find a scapegoat for the crisis. The Presidency complained of a lack of communication between Sonangol and other state institutions, while Sonangol said it lacked sufficient foreign currency to pay for fuel imports.

Angola
Issue 390 - 19 April 2019

Angola: Total starts up Kaombo Sul

Subscriber

Total on 2 April announced the start of production from Kaombo Sul, the second floating production, storage and offloading (FPSO) unit of the Kaombo project on Block 32. Kaombo Norte came on stream in July, and Kaombo Sul will add 115,000 b/d, bringing the overall production capacity to 230,000 bopd, equivalent to 15% of the country’s production.

Angola
Issue 388 - 14 March 2019

Angola: New 15/06 discovery for Eni

Subscriber

Eni has announced another oil discovery in Block 15/06, its third since the start of a new exploration campaign in 2018. The deep-water Agogo discovery is estimated to contain 450m-650m barrels of light oil in place with further upside. The Agogo-1 NFW well was drilled 180km off the coast and about 20km west from the N’Goma floating production, storage and offloading vessel on the block’s West Hub. The well was drilled by the Poseidon drillship in a water depth of 1,636 metres, reaching a total depth of 4,450 metres.

Angola
Subscriber

The government of Angola, through the Ministry of Energy and Water, has invited expressions of interest from consultants by 1 March to carry out a review of the regulatory and institutional framework of the renewable energy sector for the establishment of a competitive procurement programme for independent power producers (IPPs). The contract will be financed from a $1m grant from the Sustainable Energy Fund for Africa.

Angola
Issue 386 - 14 February 2019

Angola: Sonangol in Seadrill JV

Subscriber

Bermuda-registered Seadrill Partners has announced a 50:50 joint venture with Sonangol affiliate Empresa de Serviços e Sondagens de Angola to manage the parastatal’s new drillships. The announcement comes as Sonangol restructures to reduce debt, sell off its non-core businesses, and focus on its upstream activities. The new Sonadrill joint venture will operate four drillships, focusing on Angolan waters.

Angola
Subscriber

Angola has taken a step towards reducing its dependence on borrowing from China with the signing of a $1bn loan agreement between Sonangol and a syndicate of major international banks. The loan, which runs for five years and pays a margin of 425 basis points over Libor, was underwritten by Natixis, Société Générale, the African Export-Import Bank and Standard Chartered.

Angola
Issue 384 - 17 January 2019

Angola: Sapura rig contract

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Chevron subsidiary Cabinda Gulf Oil Company has given Sapura Energy Angola a contract for the provision of the semi-submersible tender-assisted drilling rig Sapura Jaya. The contract covers provision of the rig and drilling services for two years starting in Q2 2020, with a further two possible six-month extensions. Chevron operates Block 0 offshore Cabinda, which contains the Mafumeira field development, and Block 14, which lies west from Block 0.

Angola
Subscriber

Eni has announced the start of production from the Vandumbu field in Block 15/06. Eni said on 10 December that first oil from the Vandumbu field was achieved in late November, three months ahead of schedule. Along with the start-up of a subsea multiphase boosting system in early December, this has boosted oil production from Block 15/06 by 20,000 b/d via the West Hub’s N’Goma floating production, storage and offloading vessel.

Angola
Subscriber

Angola has published an action plan for the energy and water sectors covering the period 2018-2022. The plan aims to raise total installed capacity to 7.5GW in 2022 from 6.4GW in 2018 by expanding the role of gas and renewables, mainly solar. Tariff increases are planned in the new year in an attempt to eliminate subsidies for the power sector. Speaking at an investor roundtable in London on 14 December, energy minister João Baptista Borges said domestic tariffs would rise to around 10 kwanza ($0.03)/kWh from 3 kwanza/kWh at present.

Angola