Across the oil and gas value chain, the demand for drilling and oilfield services, detailed engineering, procurement, technical construction and pre-fabrication and assembly is expected to increase exponentially. As part of its six-year licensing round, Angola will launch a 2025 bid round in Q1 of next year, offering ten blocks for exploration in the Kwanza and Benguela basins. In tandem with blocks awarded under the 2023 round, this tender is anticipated to boost upstream drilling and appraisal activities, with a wealth of related service contracts on the horizon. 

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; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact [email protected].

To support efforts to maintain production above one million barrels beyond 2027, Angola has been promoting investment in upstream projects, with several set to come online in the coming years. During the period 2022-2027, the country’s upstream industry is projected to grow by 1.5%, with projects such as the Begonia conventional oil development in Block 17/06 expected to start operations in late-2024; the Agogo integrated West Hub Development in Block 15/06 coming online in late-2025; and production for the New Gas Consortium’s Quiluma and Maboqueiro fields set for 2026. Across these developments and more, service providers are driving projects forward.

Notably, Angolan maritime services provider OCTOMAR entered a joint venture (JV) with Angolan logistics provider Cabship to establish a diving and offshore marine support company in the Cabinda Special Economic Zone. The JV offers subsea and offshore maritime support services in both shallow and deepwater projects. Angola-based service provider Kaeso Energy Services, with over 60 years’ experience in the Angolan market, focuses on downhole tools, asset management, maintenance services and consulting. As of January 2024, the company – through its partnership with Tubostrans – was the only local consortium delivering Well Bore Clean Out Services to major operators in the country. Additionally, Sonadrill – a Sonangol-Seadrill JV – secured a $327 million contract in 2022 to drill 12 wells over a period of 25 months – ending late-2024.

Downstream, Angolan service providers continue to support the monetization, processing and distribution of Angolan oil and gas resources. Angolan consulting and procurement company Brimont, for example, operates three logistics facilities in Angola. The company also recorded deliveries of chemicals exceeding 300,000 liters in January 2024 while secured a contract in 2021 for the procurement of specialty chemicals for Sonangol’s operated blocks. Angolan bunkering company FAMAR PSC aims to position the country as a bunkering hub and is expanding its ship fleet while modernizing port infrastructure in Angola. Despite these endeavors, barriers to entry for local Angolan service providers exist, specifically related to finance, market entry and regulation.

The AOG 2024 panel discussion aims to directly address the challenges faced by Angolan service providers. Representing various financial institutions, speakers will examine methods of navigating Angola’s regulatory landscape, how companies can leverage innovative financing mechanisms and strategies for enhancing competitiveness in Angolan oil and gas.