Latest news with #Kwanza
Zawya
07-07-2025
- Business
- Zawya
Driving Angolan Hydrocarbon Production: bp Chief Executive Officer (CEO) Murray Auchincloss Joins Angola Oil & Gas (AOG) 2025
Murray Auchincloss, CEO of global energy company bp, has joined the Angola Oil&Gas (AOG) conference as a keynote speaker. His participation comes as bp – through its joint venture Azule Energy – advances a series of large-scale oil and gas developments in Angola, covering strategic investments from upstream exploration to oil production to non-associated gas development. Auchincloss' participation at the event reflects bp's broader commitment to Angola and is expected to unlock new opportunities for collaboration across the sector. With a long history in Angola, bp has played an instrumental role in unlocking significant value from the country's oil and gas resources. Initial forays by the energy major in the 1990s included the acquisition of four deepwater blocks, with a further five deep and ultra-deepwater blocks across the Kwanza and Benguela basins acquired in 2011. These investments marked the start of a decades-long commitment to Angola, with the energy major contributing significantly to the country's oil production. Many of these blocks continue to account for a significant share of the country's production portfolio, including Block 18 and 31 in the Lower Congo basin and Blocks 19 and 24 in the Kwanza and Benguela basin. Following a merger of bp's Angolan assets in 2022 with those of energy major Eni, the companies further strengthened their operational stronghold in Angola. The merger led to the establishment of the largest independent equity producer of oil and gas in the country and one that continues to play a central role in Angola's oil and gas market. The company's asset portfolio comprises 18 licenses – of which 11 are operated by Azule Energy and one is situated in Namibia. Azule energy also has a stake in the country's sole LNG facility: Angola LNG. With a target to increase oil production to 250,000 barrels per day – up from the current 210,000 bpd – while advancing non-associated gas development, Azule Energy is accelerating the development of several impactful projects. The company is preparing to start operations at the Agogo FPSO vessel in the second half of 2025. The vessel – arriving in Angolan waters in May 2025 – will be situated at the Agogo Integrated West Hub Development, joining the operational Ngoma FPSO to harness resources from Block 15/06. The vessel will increase the block's production capacity by 120,000 bpd and features a combined cycle power generation unit, advanced electrification and digital automation, a seawater-driven turbine generators and a vapor recovery unit to eliminate flaring. The vessel will add to Azule Energy's existing portfolio of operational FPSOs in Angola, with four deepwater vessels. currently in production. Beyond Agogo, Azule Energy is developing Angola's first non-associated gas projects through its operatorship of the New Gas Consortium. The project will harness gas resources at the Quiluma&Maboqueiro shallow water fields, thereby enhancing feedstock for the Angola LNG facility. As of February 2025, the project partners – namely, Cabinda Gulf Oil Company, Sonangol P&P and Totalenergies – completed the offshore platforms for the project. Production is expected to start in late-2025 or early-2026, six-months ahead of schedule. These developments coincide with a drive to enhance clean energy development in Angola, with Azule Energy spearheading projects in biorefining and solar. The company is developing the Caraculo solar photovoltaic plant through Solenova – a joint venture with Sonangol – which will be located in the province of Namibe. The project targets a total capacity of 50 MW, with the first 25 MW phase coming online in 2023. In 2024, Azule Energy and Sonangol signed an agreement to enhance decarbonization at the operational Luanda Refinery – the country's sole operating refining facility. The agreement will see the partners conduct a feasibility study for the development of a biorefinery at the facility, aiming to advance low-carbon energy solutions in Angola. These projects reflect the commitment by bp to advance Angolan energy production and Auchincloss' participation at the country's premier industry event is expected to generate greater understanding of the company's portfolio, ongoing projects and future investment plans. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
18-06-2025
- Business
- Zawya
Strategic Topics, Technical Insights: Angola Oil & Gas (AOG) 2025 to Offer Multi-Track Program
This year's edition of the Angola Oil&Gas (AOG) conference&exhibition will feature a multi-track program examining how regulatory reform, foreign investment and domestic growth have shaped the market over the past five decades, and how greater collaboration, capital expenditure and local participation will shape the next 50 years of development. Strategic Track The AOG 2025 Strategic Track will feature a series of panel discussions, keynote addresses and in-conversation with sessions, all of which aim to provide key insight into the state of play of Angola's oil and gas market. A session on Angola at 50: The Oil&Gas Industry – a catalyst for economic transformation will examine the role oil and gas has and will continue to play in unlocking economic opportunities for the country – from job creation to fuel security to revenue generation and infrastructure development. Meanwhile, with the country on track for a $60 billion upstream investment drive in the coming five years and a 2025 licensing round set to offer 10 blocks in the offshore Kwanza and Benguela basins, Angola offers strategic investment opportunities for exploration and production firms. The AOG 2025 Strategic Track will feature sessions on The Role of Onshore&Shallow Water Operations in Maintaining Production Levels; and Strategic Partnerships: Unlocking Africa's Deepwater Potential, tackling development opportunities across the market. Additionally, sessions on From Extraction to Expansion: Financing Angola's Oil&Gas Development and Increased Production Through Investment Friendly Reforms, will examine the impact reform has played on the market and how amended policies and improved fiscals have strengthened the competitiveness of doing business in Angola. Beyond the upstream sector, Angola targets 445,000 bpd in refining capacity, with a focus on reducing petroleum imports and bolstering regional fuel security. The Strategic Track will share insight into these objectives, with sessions on Towards a Secure Energy Future: Accelerating Downstream Development to Meet Market Demands; The Role of National Champions in Angola's Development; Strategic Investments in Angola's Logistics and Energy Infrastructure; and Building Tomorrow's Workforce. Technical Track Geared towards service companies, innovators and data analytics firms, the AOG 2025 Technical Track will examine how technology-driven solutions will support oil and gas development in Angola. The Technical Track aligns closely with the broader goals of the nation to increase exploration, accelerate low-carbon fuel production while unlocking new opportunities for sustainable development. Sessions on Driving Investment for Seismic Opportunities in Angola and Best Practice Strategies for Successful Exploration in the Okavango Basin will explore the impact data and technology play on unlocking new frontiers in Angola. Additionally, sessions on Economic Diversification Through Gas; Towards Net-Zero: Decarbonizing Operations; and AI and Machine-Learning: Enhancing Efficiency, Safety and Minimizing Environmental Impact will provide critical insight into emerging opportunities in Angola's low-carbon space. Focus areas will include natural gas projects, how technology such as machine learning can enhance efficiency while reducing emissions and the role research and development plays in supporting Angolan oil and gas development. In addition to panel discussions, a series of presentations will take place across the Technical Track, led by global data and analytics providers, Angolan government leaders and major operators. Additional Features In addition to the main conference program, AOG 2025 will host a dedicated deal-room. Designed as a high-impact 'Dragon's Den' style platform, the deal room offers Angolan entrepreneurs and innovators the chance to pitch their products and services to global operators. The deal room fosters collaboration, local participation and partnerships. Meanwhile, AOG 2025 will also host a pre-conference program on September 2, ahead of the main conference agenda. The pre-conference includes specialized workshops and sessions led by experts and is designed for engineers, geologists, project managers and financiers. Distributed by APO Group on behalf of Energy Capital&Power.
