logo
Major Upstream Players Join Angola Oil & Gas (AOG) 2025 Amid Accelerated Investment Drive

Major Upstream Players Join Angola Oil & Gas (AOG) 2025 Amid Accelerated Investment Drive

Zawya4 days ago
With a planned $60 billion investment pipeline for the oil and gas industry, Angola is experiencing a surge in upstream activity, from frontier exploration to seismic acquisition to drilling and incremental production. Angola's major upstream operators have joined the Angola Oil&Gas (AOG) conference – taking place September 3-4 in Luanda – to discuss Angola's project pipeline. This year's conference celebrates 50 years of independence in Angola, with speakers set to share insight into how the past five decades of oil and gas development have laid the foundation for future growth.
With over three decades of operational history in Angola, energy major ExxonMobil is driving an ambitious exploration and production agenda, focusing on maximizing output at active assets while pursuing frontier opportunities. Recently, the company signed an agreement alongside TotalEnergies for the study and evaluation of the Free Areas of Blocks 17/06 and 32/21. The company is also eyeing a $15 billion investment in the Namibe basin, pending the results of ongoing exploration activities. These efforts are expected to unlock new resources in Angola. Katrina Fisher, Managing Director of ExxonMobil Angola, will share further insights into ExxonMobil's investment plans at AOG 2025.
With a long history in Angola, energy majors bp and Eni have played an instrumental part in unlocking resources and generating economic opportunities for the country. The merger of the companies' Angolan operations in 2022 saw the rise of Azule Energy – Angola's largest independent equity producer of oil and gas – and the subsequent integration of bp and Eni's project portfolio and expertise. On the back of this, Azule Energy has spearheaded various large-scale operations in Angola, with new targets to increase production to 250,000 bpd. Major upcoming developments include the Agogo Integrated West Hub Development (2025) and Angola's first non-associated gas project (2026). During AOG 2025, Guido Brusco, COO: Global Natural Resources at Eni, and Gordon Birrell, Executive Vice President of Production&Operations at bp, will provide insight into Angola's exploration and production landscape, from oil exploration to natural gas to global partnerships and future investment prospects.
Nigerian independent exploration and production company First Exploration&Petroleum Development Company (FIRST E&P) has a strong portfolio of producing assets in Nigeria and is currently pursuing regional growth opportunities. With operations spanning both shallow waters and onshore blocks in the Niger Delta, FIRST E&P has established experience in exploration and production activities. While not directly active in Angola as of yet, FIRST E&P stands to play a notable role in unlocking greater value from Angola's oil and gas resources. During AOG 2025, Ademola Adeyemi-Bero, CEO&Managing Director of FIRST E&P, is expected to share insight into how the company's experience in Nigeria can support future oil and gas projects in Angola.
Angolan oil and gas company Alfort Petroleum is pursuing onshore exploration in Angola, following its qualification as an operator under the country's 2020 bid round. During the round, Alfort Petroleum won operatorship of Block KON 8, attaining a 50% stake in the asset. To date, the company has completed the seismic acquisition phase for the block and is currently in the final stages of interpreting the data. Alfort Petroleum aims to start drilling activities in Q4, 2025 or Q1, 2026. At AOG 2025, Gianni Gaspar-Martins, General Manager of Alfort Petroleum, is expected to provide an update on Block KON 8.
Meanwhile, Angolan private energy company Etu Energias seeks to increase oil and gas production to 80,000 bpd by 2030 through the optimization of producing assets and the accelerated development of newly-acquired blocks. The company expanded its portfolio of operated and non-operated blocks from 6 to 15 in 2024, while its reserves grew 2.6 times to reach 106 million barrels. In 2025, the company continues to drive a 3D seismic campaign at Block FS/FTST, will spud the Chimacuanga exploration well and will complete feasibility studies at the newly-acquired Blocks CON 1 and CON 4. Etu Energias CEO Edson dos Santos is speaking at AOG 2025, where he is expected to share insight into the company's exploration and production strategy.
Distributed by APO Group on behalf of Energy Capital&Power.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sharjah Chamber's trade mission to India highlights 30% growth in Indian investments,
Sharjah Chamber's trade mission to India highlights 30% growth in Indian investments,

Zawya

time23 minutes ago

  • Zawya

Sharjah Chamber's trade mission to India highlights 30% growth in Indian investments,

Mumbai: H.E. Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages. He noted that Indian investors form a key component of Sharjah's business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah's export and re-export volume to India totaled approximately AED 576 million, as documented through certificates of origin issued by the Chamber. These remarks were made during the Sharjah–India Business Forum, which was organized by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors. This mission reflects SCCI's commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts. The forum was attended by H.E. Abdallah Sultan Al Owais, Chairman of SCCI; H.E. Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and H.E. Jamal Mohamed Sultan Binhuwaidin, SCCI Board Member. Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee'ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah. During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors. The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth. In his keynote speech, H.E. Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasized the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period. He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED 240 billion in 2024, marking a 20.5% increase from AED 199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalize on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' Al Owais added. He noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030. Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities. He also underscored the Emirate's investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils. As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry. The program will also feature various business forums and meetings between Emirati and Indian business communities, aimed at exploring investment prospects and establishing joint economic partnerships. For further information, please contact: Ali Elgendy Misbar Communications ali@ Ahmad Aldwairi Misbar Communications

Egypt: El-Khatib witnesses laying foundation stone of KCG Textiles' spinning factory
Egypt: El-Khatib witnesses laying foundation stone of KCG Textiles' spinning factory

Zawya

time23 minutes ago

  • Zawya

Egypt: El-Khatib witnesses laying foundation stone of KCG Textiles' spinning factory

Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib witnessed the launch ceremony of KCG Textiles' new spinning factory in 10th of Ramadan City, according to a statement. El-Khatib affirmed that the Turkish company's new launch reflects the growing confidence of foreign investors in the Egyptian market, supporting the state's plans to expand exports. He also stressed the ministry's keenness to provide all forms of support to KCG Textiles to facilitate the implementation of its investments in Egypt, especially with the move to launch a POY production plant as part of the next phase of plans. These projects will create more job opportunities, provide high-quality products, and anchor Egypt's position as an industrial hub in the region. The company specializes in the production of ready-made curtains and furnishings, starting from the spinning stage. Its entire production is exported to Europe, the US, and China. Its annual exports amount to approximately $65 million, with total investments estimated at $75 million. The company also offers about 1,600 job opportunities and produces for major global brands. Meanwhile, the newly added expansion area spans 15,000 square meters and includes five main production lines, including a polyester thread production line, textile production line, and a dyeing line. KCG has been operating in Egypt since 2007 under the Free Zone system, located on an area of 220,000 square meters.

Egyptian real estate investment firm Bonyan eyes expansion in East Cairo
Egyptian real estate investment firm Bonyan eyes expansion in East Cairo

Zawya

time23 minutes ago

  • Zawya

Egyptian real estate investment firm Bonyan eyes expansion in East Cairo

Egyptian real estate investment company Bonyan is planning to expand its portfolio in the commercial real estate sector with a particular focus on East Cairo, according to the company's CEO Shamel Aboul Fadl. Speaking to Zawya Projects, Fadl said seven new assets are currently under evaluation, with one expected to be selected soon for acquisition. The company currently owns 10 commercial assets in East and West Cairo with 93 percent occupancy rate and 56 percent of the leases denominated in US dollars. Commenting on the company's initial public offering (IPO) on the Egyptian stock exchange EGX, Fadl said that first-day subscription coverage on Sunday surpassed expectations, calling the market response 'very positive.' The company is offering up to 21.94 percent of its share capital through the IPO with a total transaction size of EGP 1.8 billion. Of the total EGP 1.8 billion offering, EGP 1.55 billion will be raised through a secondary sale by existing shareholders, while EGP 250 million will be generated via a primary issuance of new shares. Fadl said the company's share was valued at EGP 7.5 per share by an independent financial advisor, who based the assessment on a blend of asset appraisals and comparable transaction benchmarks, implying offering valuation of EGP 8.2–9 billion for the floated stake. 'If the capital is increased, the funds will be used to support the company's investment expansion,' he said, adding that debt levels remain low, currently not exceeding 8 percent of the portfolio's value, as a precaution amid high interest rates. The offering is structured with a 95 percent allocation to institutional investors and 5 percent to retail participants, according to a presentation by company officials. It includes a stabilisation fund of EGP 360 million, equivalent to 20 percent of the offering size, of which EGP 270 million is designated for the private tranche. The stabilisation mechanism will remain active for one-month post-listing. (1 US Dollar = 49.69 Egyptian Pounds) (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store