Angola’s marginal fields present a strategic opportunity to boost oil and gas production, aligning with national goals to maintain output above one million barrels per day.

The center will serve as a collaborative hub for the oil, gas and energy industries.

Corcel will recommence intervention activities at the Tobias-13 and Tobias-14 wells on Block KON-11, situated onshore.

The blocks were initially promoted as part of the country’s 2023 Limited Tender.

The loan approved by Absa is part of a $160 million credit package which Pensana is sourcing from various funders to raise 60% of capital required for the Longonjo project.

Angola’s burgeoning onshore hydrocarbons market has a number of strategic advantages for exploration and production companies seeking to participate in the country’s oil and gas sector.