The Oil & Gas Year Angola 2016
On the verge of becoming the largest oil-producing country in the African continent, Angola is reconfiguring its oil and gas industry in order to weather the current oil crisis. Over the past two decades, all the oil majors have invested heavily in the country’s hydrocarbon potential and show no intention of loosening their grip on the market.
As the market leading operator, Total keeps enhancing its presence in Angola through its Kaombo project, a $16-billion ultra-deepwater offshore asset poised to produce first oil in Q1 2017. Chevron commenced oil production on its offshore Lianzi field located along the Congo-Angola maritime border. In April, the Kizomba satellites phase 2 on block 15, operated by ExxonMobil, started production ahead of schedule. On block 15/06, Italian operator, Eni, is reaping the fruits of the West Hub development process that comprises the Sangos, Cinguvu and Mpungi fields.
In an effort to support the overall oil production, state-owned Sonangol has concluded the awards of 10 onshore blocks, situated in the Kwanza and Lower Congo basins. The country is also expecting major developments in terms of natural gas processing from the $10 billion Angola LNG plant in Soyo, which is likely to resume operations and reach 75% capacity by mid-2016. In the northern province of Cabinda, the groundwork for the new deepwater port in Caio is spurring enthusiasm among the industry as it will provide a much-needed logistics hub for offshore operations.
The 2016 edition features all the major industry players such as Sonangol, Total, Chevron, Halliburton and Weatherford. The books focuses on the government’s Angolanisation policy and the development of local content including interviews with key associations and institutions such as the US-Angola Chamber of Commerce, the Center for Business Support (CAE) and the National Institute of Petroleum.