Major Upstream Players Join Angola Oil & Gas (AOG) 2025 Amid Accelerated Investment Drive
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
43 minutes ago
- Zawya
BP, Shell to study hydrocarbon potential at three Libyan oilfields
TRIPOLI: Oil Majors BP and Shell agreed with Libya's National Oil Corp (NOC) to conduct studies for hydrocarbon exploration and development at three Libyan oilfields, NOC said in a statement on Monday. Libya, Africa's second-largest oil producer and a member of the Organization of the Petroleum Exporting Countries (OPEC), has suffered from disruptions in oil activities due to disputes between armed rival factions over oil revenues that have often led to oilfield shutdowns. Foreign investors have been wary of putting money into Libya, which has been in a state of chaos since the overthrow of Muammar Gaddafi in 2011. However, oil giants like Eni, OMV, BP, and Repsol resumed exploration activities in Libya last year after halting them for a decade. BP will reopen its office in the capital Tripoli during the last quarter of 2025, NOC said. It also said it signed a memorandum of understanding with BP to conduct studies to assess the potential for hydrocarbon exploration and production in the Messla and Sarir oilfields, as well as in some surrounding exploration areas. Separately, the state oil firm said it agreed with Shell to evaluate hydrocarbon prospects and conduct a comprehensive technical and economic feasibility study to develop the Atshan oilfield and other fields fully owned by the NOC. The national oil output in the past 24 hours has reached 1.385 million barrels per day, according to the NOC website.
Zawya
43 minutes ago
- Zawya
Saudi: Commercial registrations for holiday homes and chalets jump 42% in 2Q 2025
RIYADH — The Ministry of Commerce recorded a significant increase in the number of commercial registrations related to the hospitality sector during the second quarter of 2025. According to the ministry's report, the number of commercial registrations for holiday homes and chalets jumped by 42 percent, reaching 8,617 by the end of the second quarter of this year, compared to 6,063 during the same period last year. This reflects the rising demand for tourism accommodation services and the expansion of investment in this vital sector. The Riyadh region topped with 3,216 in the list of regions with the most registrations, followed by Makkah with 3,047, the Eastern Province with 721, Madinah with 515, and it was followed by Asir. Hospitality unit reservation activity also recorded a 32 percent increase in the number of commercial registrations, with 5,099 registrations recorded during the second quarter of 2025, compared to 3,850 during the same period in 2024. The Makkah region topped with 2,027 registrations, followed by Riyadh with 1,939, Madinah with 410, the Eastern Province with 374, and Al-Qassim Region with 81. This rapid growth in hospitality and tourism-related activities reflects the growing demand for domestic tourism, along with efforts to enhance the investment environment and facilitate regulatory procedures, in line with the goals of Saudi Vision 2030 to develop the tourism sector and increase its contribution to the GDP. The Ministry of Commerce announced the issuance of more than 80,000 commercial registrations in the second quarter of this year, bringing the total number to more than 1.7 million commercial records in all regions of the Kingdom. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
Sharjah highlights 30% growth in Indian investments
MUMBAI: 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 AED576 million, as documented through certificates of origin issued by the Chamber. These remarks were made during the Sharjah–India Business Forum, which was organised 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 Abdallah Sultan Al Owais, Chairman of SCCI; Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and 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, Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasised 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 AED240 billion in 2024, marking a 20.5% increase from AED199.3 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 capitalise 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.
