The Oil & Gas Year Angola 2014
Angola is the second-largest oil producing state and the third-largest economy in Africa, The extractive sector accounts for 46 percent of the country’s GDP and the government is promoting domestic banks and the use of local currency by oil and gas companies ensure that income benefits Angola’s citizens. Recent successes in fabrication of offshore oil equipment have bought jobs and investment into the country.
The African nation is keen to learn from its South American counterpart Brazil and to capitalise on any pre-salt potential lying beneath its waters. Ultra-deepwater projects in the relatively unexplored Kwanza Basin are in the works and heavy investment is coming in from multinational services companies such as Schlumberger, Halliburton and Baker Hughes. Of the 32 wells slated for drilling in 2014, 15 will be in pre-salt areas.
The Oil & Gas Year Angola 2014 interviewed dozens of industry leaders including Sonangol EP administrator Paulino Jeronimo, Total E&P Angola director general Jean-Michel Lavergne and Paenal general manager César Guerra. TOGY’s second edition on Angola is a vital guide for investors seeking to enter this dynamic market.