New activity in Angola’s subsea and marine markets

Ricardo Do Amaral, general manager of Octomar, talks to The Energy Year about the company’s assistance to operators developing their assets and its projects with the Angolan Ministry of Environment. Octomar is an Angolan diving and marine services company offering a variety of offshore tanker terminal and FPSO support services, as well as marine and subsea services and vessels.

AEC Calls on E&P Companies, Technology Providers to Invest in Angola

Angola plans to maintain oil production at 1.1 million barrels per day (bpd) until 2027, thereafter increasing output to over 2 million bpd to stimulate economic growth. As the linchpin of the economy, Angola’s oil and gas industry has seen aggressive reform since 2017, with the government’s continuous competitive focus guaranteeing attractive fiscal and contractual terms for investors. As such, the African Energy Chamber (AEC) is calling on global E&P companies and technology providers to invest in Angola, as one of Africa’s largest producers and a growing regional production hub.

Angola’s Oil & Gas Sector: A Gateway to Opportunity for Brazil

Angola’s push towards economic diversification and privatization has opened up opportunities for foreign investors, and Brazil has emerged as a highly strategic partner owing to its expertise in the oil and gas industry. Brazil’s trade with Africa surged by 33.7% in 2022, reaching nearly $21.5 billion, up from $15.9 billion in 2021. This increase presents an opportunity for Angola to deepen its economic ties with Brazil as the country aims to increase oil production while diversifying its economy.