Representing one of the leading producers in Africa, Angola’s oil production is expected to remain steady at approximately 1.1 million barrels per day in 2024. While billion-dollar gas projects progress, developments across the renewable, power and infrastructure sectors have also advanced, with several anticipating a 2024 start.
Cabinda Refinery
The first phase of Angola’s Cabinda Refinery, an integrated modular oil refining platform, will start production in 2024. Initially producing 30,000 barrels per day (bpd), output will increase to 60,000 bpd at peak production. The facility is set to meet up to 10% of the country’s fuel demand.
Angola Green Hydrogen
Angola’s landmark green hydrogen project will begin producing and exporting green hydrogen to Germany in 2024, making the project the first of its kind in Africa to supply Europe with the resource. Powered by hydroelectricity, the 400 MW project is being developed by national oil company Sonangol alongside German firms Gauff and Conjuncta. The project will produce up to 280,000 tons of green ammonia annually.
Cameia-Golfinho Fields
French major TotalEnergies is developing the Cameia and Golfinho fields, located in the Kwanza Basin offshore Angola. With a Memorandum of Understanding signed with Sonangol in May 2023 and the welcoming of Malaysia’s state-owned Petronas to the project, a final investment decision (FID) is on the cards for early 2024.
CLOV Phase 3 Project
In Block 17, TotalEnergies is working towards first production at the CLOV Phase 3 project by 2024. Phase 3 comprises a five-well expansion that will increase production by 30,000 bpd at existing fields. The project represents an extension of the existing subsea network and its interconnection to the CLOV Floating Production, Storage and Offloading (FPSO).
Barra Do Dande Ocean Terminal
The completion of the Barra Do Dande Ocean Terminal, located in the northern province of Bengo, is on track for July 2024. Supporting the country’s oil industry, the terminal is being developed at a cost of $642 million. As of September 2023, the project was 63% complete.
Luena Solar Park
The construction of Angola’s Luena Solar Park – developed by solar developer Sun Africa and engineering and technology consulting firm MCA Group – is scheduled for completion by 2024. With a capacity of 26,906 MW, the facility comprises 42,560 solar panels and will save the country approximately 19,515 liters of fuel.
Soyo II Combined Cycle Power Plant
Construction of the Soyo II Combined Cycle Power Plant is likely to kick-off in 2024. Currently at the permitting stage, the 500 MW project will be developed in a single phase, with plans in place to start production in 2025. The dual-fired plant comprises four gas turbines and two steam turbines.
Begonia Oilfield Development
The Begonia Oilfield, the first development in Angola’s offshore Block 17/06, is on track for first production in 2024. Operated by TotalEnergies, the field will produce up to 30,000 bpd using a standardized subsea production system – the company’s second after CLOV Phase 3.
Onshore Bid Round
Under the country’s six-year licensing round launched in 2019, Angola’s National Agency of Oil, Gas and Biofuels launched a public tender for the award of 12 onshore blocks in the Kwanza and Congo basins in September 2023. Running for six months, the results of the round will be announced on March 19, 2024.
Azule Energy’s Block 18 and 31
Azule Energy – a joint venture between global energy majors Eni and bp – is advancing exploration in Angola’s offshore basins. In 2024, the company plans to take FID for Block 31, where Azule will develop three reservoirs using a FPSO unit. Additionally in 2024, Azule Energy will drill a series of wells in Block 28 in the Namibe Basin.
