Up to 43 wells are expected to be drilled throughout 2024 in Angola – covering both on- and offshore blocks – as the country targets accelerated exploration. Concurrently, the National Oil, Gas & Biofuels Agency (ANPG) will be reviewing abandoned wells and installations – representing 45% of the country’s total well count – with a view to assess opportunities for reactivating closed oil wells. These efforts introduce fresh opportunities for technology-driven drilling, and Norwegian firms – with their expertise in oilfield services and frontier exploration – stand to play a large part in supporting production growth in Angola.
Norway’s Equinor Targets New Frontiers in Angola
Norway-headquartered international energy company Equinor has been active in Angola since 1991 and has now set its sights on exploring new frontiers in the country. In December 2023, the company secures stakes in two exploration blocks – 46 and 47 – located in the Lower Congo Basin. The acquisition follows the signing of a production sharing agreement in September 2023 between Equinor, international energy company Azule Energy and the ANPG for Block 31/21. The partners will drill one well during the initial five-year exploration period.
For Equinor, the Angolan continental shelf is one of the largest contributors to the company’s oil production outside of Norway. In addition to Blocks 46, 47 and 31/21, the company’s Angolan interests include Block 17, Block 15, Block 31, Block 1/14 and Block 29. Equinor remains committed to Angola, evident through recent license extensions for Block 15 – extended to 2031 – and Block 17 – extended to 2045. Angola’s upcoming licensing round creates a strategic opportunity for the company to further expand its presence in the country’s upstream market.
Capitalizing on Norwegian Drilling Expertise
With expertise in engineering, design and production systems related to the oil and gas industry, Norwegian service providers have long-played an important role in supporting project development in Angola. Active in the country since 1998, engineering company Aker Solutions has been involved in several oil and gas projects, with fresh contracts expanding its contribution to the market even further. Aker Solutions was awarded a multi-year FPSO contract in June 2024 by Azule Energy for works related to the construction of two FPSO vessels. The company will provide brownfield maintenance and modification support for the Greater Plutonio and PSVM vessels, situated in Block 18 and Block 31, respectively. In 2023, the company was awarded 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, supporting exploration and production activities. DOF Subsea secured a long-term contract which would see its Skandi Seven offshore construction support vessel contracted for a two-year lease period starting Q4, 2024. At 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 Angola in January 2024, with the company handling the transportation and installation services for the project. As new blocks are awarded in Angola, the demand for engineering and support services is expected to grow.
Advancing Data-Driven Exploration
Working closely with the ANPG, Norwegian seismic company PGS supports and de-risks exploration in Angola through the provision of seismic data and geoscience studies covering the Angolan continental margin. For over 20 years, the company has been acquiring and processing multiclient 2D and 3D seismic data and now offers a library rich with over 12,500 km² of 2D and 69,200 km² of 3D studies. Available data not only determines the untapped potential of Angola’s on- and offshore acreage but 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 offers the opportunity for companies to evaluate open acreage for proven pre- and post-salt plays and 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 reason for companies to evaluate underexplored regions.
As Angola’s upstream market continues to attract investment on the back of historic drilling success, fresh seismic data and future block opportunities, Norwegian players are expected to remain a central part of national E&P efforts. Angola Oil & Gas (AOG) 2024 will feature a panel discussion on Synergies Through Collaboration: International Ventures in Angola’s Oil Sector, which features speakers from Norway’s Panoro Energy and Norwegian Energy Partners.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; 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. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Download the AOG 2024 program here for more information. https://angolaoilandgas.com/attend/conference-program
