The IRDP said prices of other fuels, including gasoline and liquefied-petroleum gas, will remain unchanged in Angola, Africa’s third-largest oil producer. The IMF said in February that Angola should do more to eliminate subsidies that cost about $3 billion last year — similar to the amount the government spent on health and education last year.
The event was held as US trade rival China seeks to extend its influence on the continent by offering to remove levies on imports from almost all African countries, while America threatens reciprocal tariffs after a 90-day pause ends on July 9. The US has also cut aid to the continent and banned travel from certain African nations.
Afentra and M&P will each acquire 50% of Etu Energias’ 10% non-operated interest in Block 3/05 and 13.33% non-operated interest in Block 3/05A. The buyers will each pay an initial consideration of USD 23 million, consisting of USD 22 million for Block 3/05 and USD 1 million for Block 3/05A.
TotalEnergies, as operator of Block 17, has worked with partners to develop the block into a cornerstone of Angola’s oil production for more than 20 years. The renewed PSC allows for the continued use of existing infrastructure and technological expertise to support value creation from mature oilfields.
The fire occurred while the platform was undergoing scheduled maintenance. A total of 17 people were injured. Authorities are working to recover a body spotted underwater near the platform, according to the ministry.
Angola has welcomed the Agogo FPSO, a game-changing facility for the country’s oil output and the world’s first such vessel fitted with a post-combustion CCS unit.
The news was announced by the National Oil, Gas and Biofuels Agency (ANPG) on Friday.
“Our emerging partnership with Corcel is emblematic of our strategy to work with best-in-class partners and deploy high-impact capital that brings us exposure to large potential resource outcomes that require little additional capital. We look forward to the expansion of our West African conjugate margin exposure through KON-16, one of the most promising blocks in a proven, underexplored basin,” said Sintana CEO Robert Bose.
SPIE Global Services Energy, a subsidiary of SPIE, has announced the signing of a five-year contract with Sonangol Exploração & Produção for the general maintenance of the Block 3/05 oil complex in Angola.
This contract, which commenced in early September 2024, covers the offshore maintenance of Cobo, Pacassa and Palanca platforms in Block 3/05, oil fields located about 200 km off the coast of Luanda and operated by Sonangol Exploração & Produção. SPIE Global Services Energy is providing general maintenance services covering electrical and mechanical equipment, HVAC (heating, ventilation, and air conditioning), as well as turbomachinery, instrumentation, and automation systems.
Liebherr has successfully sold two offshore cranes of the type RL 2600 (Ram Luffing 2600) and RL-K 2600 (Ram Luffing knuckle boom 2600) to Singapore-based Yinson Production. The cranes will support the Agogo FPSO (Floating Production Storage and Offloading Unit), which will be operating in the Agogo field of offshore Angola. Used for maintenance and component replacement on the Agogo FPSO, the cranes are the ideal choice for harsh offshore environments.
The Quiluma and Maboqueiro offshore platforms for the New Gas Consortium (NGC) project in Angola have been completed, consortium partner Azule Energy announced on Tuesday.