(World Oil) – Shell Plc will invest about $1 billion on new oil blocks in Angola as the southern African nation seeks to boost production that’s dwindled over the years, the chairman of the oil regulator said. Shell and Angola’s National Agency for Oil, Gas and Biofuels signed an exclusive agreement for exploration rights covering offshore Blocks 19, 34 and
(World Oil)– Shell’s return to Angola after a 20-year hiatus highlights a shift in sentiment toward the nation’s oil sector, as reforms aimed at attracting global capital start to show results. Shell, alongside Chevron and Sonangol EP, signed deals with the National Agency of Petroleum, Gas and Biofuels for Block 33 in the Congo Basin, ANPG board member Alcides Andrade
(Oil Price)– Azule Energy, a joint venture of international majors BP and Eni, has discovered a major natural gas reservoir offshore Angola in the first gas-targeting exploration well in the oil-producing country. Azule Energy, the operator of Block 1/14, has announced a gas discovery at the Gajajeira-01 exploration well, located in the Lower Congo Basin in Angola’s waters. Initial assessments suggest gas
(Oil & Gas 360) – April 17, 2025, Calgary, Alberta, Canada – Reconnaissance Energy Africa Ltd. (the “Company” or “ReconAfrica”) (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) (NSX: REC) announces an agreement for a joint exploration project in Angola with the Agência Nacional de Petróleo, Gás e Biocombustíveis or National Oil, Gas and Biofuels Agency (“ANPG”). ReconAfrica has entered into a Memorandum
(World Oil) – Baker Hughes has been awarded a contract to supply advanced compression solutions to Saipem for TotalEnergies’ Kaminho Floating Production Storage and Offloading (FPSO) project in Angola, the company announced Tuesday. The contract is to be booked in the third quarter of 2024. Baker Hughes’ centrifugal BCL compressor and Integrated Compressor Line (ICL) technology were selected because of their capacity to minimize
World Oil (Bloomberg) – TotalEnergies is interested in partnering with Petrobras on projects outside of Brazil as the French supermajor expands in Latin America’s most populous nation, Chief Executive Officer Patrick Pouyanne said Monday. Namibia, Suriname and Angola were among the areas Pouyanne mentioned as potential cooperation zones. In Brazil, the offshore Mero project in the so-called pre-salt region, where
World Oil (WO) – With details for Angola’s 2025 licensing round announced earlier this week, African exploration markets are making a push for upstream investment by deploying more attractive terms and offerings for global investors. Angola’s upcoming bid round offers 29 opportunities in oil-and-gas-rich basins, minimizing financial risk for exploratory companies. The process is transparent, efficient, and offers flexible contracts,
World Oil (WO) – Chevron, through its subsidiary Cabinda Gulf Oil Company Limited, has signed two Risk Service Contracts (RSC) for Block 49 and Block 50 offshore Angola, in the ultra-deep waters of the Lower Congo Basin. These contracts, awarded January 2024, mark the beginning of exploration and development in these offshore blocks. Announced by the African Energy Chamber (AEC),
World Oil (Bloomberg) – Angola quit OPEC because its quota limits hindered the country’s plans to stabilize crude production above 1 MMbpd, according to the country’s top oil official. The African nation’s December exit from OPEC came after the group imposed a much lower production limit. The tighter cap was too much for Angola, which is making efforts to boost
Reuters LONDON/LAGOS – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer. The consequences could be grave for a poor country that relies heavily on oil revenues and is saddled with debts that exceed its economic output.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Partnership seeks to redevelop offshore asset ExxonMobil (stock ticker: XOM) has entered into a production sharing agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels in order to further invest in the country’s offshore Block 15. Exxon’s Angola assets as of year end 2018 (source: Exxon 2018 financial
