Oil-rich Angola expands its fossil fuels explorations

7 Dec 2021

Oil-rich Angola expands its fossil fuels explorations

OIL-RICH Angola has nearly $100 billion worth of oil and gas projects either in investigation or design and construction as the Organisation of the Petroleum Exporting Countries (OPEC) member seeks to expand its natural resource opportunities and lessen dependence on imports.

Four initiatives worth $27.6 billion are under investigation by integrated oil and gas company Sonangol E&P ($12.3 billion); Dutch-owned exploration and production company Eni Angola ($9.3 billion); the US-based Quanten Consortium ($4 billion) and the New Gas Consortium ($2 billion).

Equally, Sonangol has another two $10 billion projects and Eni Angola another $10 billion project in the FEED pipeline, while BP Exploration Angola ($22.6 billion) and Sonangol E&P and PAJ Consortium ($11.3 billion each) have further projects in the design phase.

Eni Angola specialises in conventional and deep offshore fields, while the Quanten Consortium will establish a 100,000 barrels per day greenfields refinery in Soyo, Zaire Province. Quanten will design, build, own and operate the proposed deep-conversion refinery.

The New Gas Consortium, which includes Total E&P Angola, will invest in the $2 billion Kivinca Nvemba gas processing plant. The facility will have the capacity to process 400 million cubic feet of natural gas daily.

Shareholders in PAJ Consortium include BP, Sonangol, Equinor, Sonangol E&P and Sinopec International, with the development company investing in the $11.3 billion Palas Astraea Juno Field. That initiative will install ten wells, production and water injection flow lines, deepwater risers, seabed structures and a 64km gas export pipeline connected to a subsea tie-in point.

Located offshore from Luanda, the 1.6km deepwater facility will recover more than 130 million barrels of oil over its lifetime.

For more information on oil and gas opportunities in Angola, please reach out to us here.

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