Sonangol posted net income of $125 million for 2019, while EBITDA reached $4.78 billion up 10% year on year.
Trois Consulting and DDMS have announced the offering of a fully integrated geological and geophysical study for onshore exploration in Angola.
Chad asked Glencore to suspend payments on its oil-for-cash loan this year, a move that could prove a precedent for private creditors worried about being dragged into a global debt-relief push for poor countries.
DOF Subsea has won an integrated field support vessel (FSV) contract from an unnamed IOC in Angola.
The energy sector in Sub-Saharan Africa faces numerous challenges, but there is also an increasing sense of urgency and opportunity for the development of the industry on the continent.
BP’s Greater Plutonio floating production, storage and offloading (FPSO) vessel offshore Angola has produced 600 million barrels of oil.
The Dalia floating production, storage and offloading (FPSO) vessel has produced 1 billion barrels of oil, offshore Angola.
Angola is making progress on its reform plans, issuing tenders for work, while Total is moving to restart offshore drilling.
Angolan contractor Sonamet has completed factory acceptance tests on all flowline structures for the next stage of work on the Zinia field.
Despite challenges thrown up by the coronavirus outbreak, BP’s production in Africa was largely unchanged, although exploration and development has been pushed back.
Oceaneering has won inspection work in Angola from a Chevron subsidiary.
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Gemcorp has completed preliminary work preparing a site in Angola for the construction of the Cabinda oil refinery.
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
BP engineer Arlette Giron Paiva lifts the lid on her experience of working offshore Angola during the Covid-19 pandemic. Arlette is away from her husband and son for six weeks at a time, with two weeks spent in isolation in a hotel with her crewmates before heading to the Greater Plutonion FPSO for four weeks.
Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has released details on new blocks available for bidding this year but warned there may be delays as a result of the coronavirus pandemic.
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Middle East and African banks face mounting pressure from the gathering macroeconomic storm and oil price pressure, Fitch Ratings has said.
Nigeria and Angola face particular pressures as a result of the oil price crash, a new report from Verisk Maplecroft has warned.
Nigeria is moving towards production cuts as a result of a lack of local storage and inability to sell cargoes.
Piracy increased in the first quarter of 2020, with the Gulf of Guinea continuing to hold its position as the most dangerous waters in the world.
“Baselines matter” is one takeaway from the deal brokered over the weekend to save the market.
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
PGS has completed the acquisition of 3D seismic on Angola’s Kwanza shelf, which will be used in the country’s 2021 licence round.