Angola is set for a surge in oil exploration with plans to drill up to 43 wells throughout 2024, covering both onshore and offshore blocks. The National Oil, Gas & Biofuels Agency (ANPG) is also reviewing abandoned wells, representing 45% of the country’s total well count, to assess reactivation opportunities. These initiatives create new prospects for technology-driven drilling, and Norwegian companies, known for their expertise in oilfield services and frontier exploration, are poised to play a significant role in boosting production growth in Angola.
Norway’s Equinor, an international energy company active in Angola since 1991, is now exploring new frontiers in the country. In December 2023, Equinor secured stakes in two exploration blocks, 46 and 47, located in the Lower Congo Basin. This acquisition follows a production-sharing agreement signed in September 2023 between Equinor, Azule Energy, and the ANPG for Block 31/21. The partners plan to drill one well during the initial five-year exploration period.
The Angolan continental shelf is a major contributor to Equinor’s oil production outside of Norway. Besides Blocks 46, 47, and 31/21, Equinor’s interests include Blocks 17, 15, 31, 1/14, and 29. The company’s commitment to Angola is evident through recent license extensions for Block 15 (to 2031) and Block 17 (to 2045). Angola’s upcoming licensing round offers a strategic opportunity for Equinor to further expand its presence in the upstream market.
Norwegian service providers have long played a crucial role in supporting project development in Angola, leveraging their expertise in engineering, design, and production systems related to the oil and gas industry. Active in the country since 1998, engineering company Aker Solutions has been involved in several oil and gas projects. Recent contracts have expanded its contribution to the market even further. In June 2024, Aker Solutions was awarded a multi-year FPSO contract by Azule Energy for constructing two FPSO vessels. The company will provide brownfield maintenance and modification support for the Greater Plutonio and PSVM vessels in Block 18 and Block 31, respectively. In 2023, Aker Solutions received a contract to supply subsea umbilicals for the Ndungu project in Block 15/06.
Other service providers, including DOF Subsea and Ocean Installer, have performed various offshore support services in Angola. DOF Subsea secured a long-term contract for its Skandi Seven offshore construction support vessel, set for a two-year lease period starting in Q4 2024. By the end of June 2024, the vessel was operating from the port of Luanda, supporting the Greater Plutonio deepwater project in Block 18. Additionally, Ocean Installer won a contract for work on the Girassol Life Extension project in January 2024, handling transportation and installation services. As new blocks are awarded in Angola, the demand for engineering and support services is expected to grow.
Norwegian seismic company PGS has been working closely with ANPG to support and de-risk exploration in Angola through the provision of seismic data and geoscience studies covering the Angolan continental margin. For over 20 years, PGS has been acquiring and processing multiclient 2D and 3D seismic data. The company now offers a library rich with over 12,500 km² of 2D and 69,200 km² of 3D studies. This data not only determines the untapped potential of Angola’s onshore and offshore acreage but also supports new investment by identifying future drilling targets.
In preparation for Angola’s 2025 licensing round, PGS released a new Angola Central Basin Time screening dataset in 2023. The dataset allows companies to evaluate open acreage for proven pre- and post-salt plays. It incorporates 26,300 km² of full-stack GeoStreamer 3D data in the deepwater Kwanza Basin, covering Blocks 24, 25, 38, 39, and 40, part of the 2025 bid round. Data is available upon request. The introduction of the first-ever marginal fields for exploration provides further incentives for companies to evaluate underexplored regions.
As Angola’s upstream market continues to attract investment, fresh seismic data and future block opportunities will keep Norwegian players at the center of national exploration and production efforts. Angola Oil & Gas (AOG) 2024 will feature a panel discussion on “Synergies Through Collaboration: International Ventures in Angola’s Oil Sector,” with speakers from Norway’s Panoro Energy and Norwegian Energy Partners.
AOG is the largest oil and gas event in Angola. Supported by the Ministry of Mineral Resources, Oil, and Gas; the national oil company Sonangol; ANPG; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry.
Source: Energy Capital & Power
