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Angola

More Fun Facts About Angola

Angola's traditional music is the semba - Brazilian samba is believed to have originated in Angola, where it's known as "semba". The two are very similar. Angolan semba was danced to celebrate different occasions and is known as the music of the sea.

Angola's national tree is the majestic imbondeiro - There is one tree that is special to Angolan, it's called "imbondeiro". There was a popular belief that God planted this tree, also known as "Boabob" upside down. The unusual looking imbondeiro tree can be found growing all over the country and on local artwork.

Angola is the birthplace of the dreadlocks hair style.

Growing Portuguese diaspora - in 2010, the number of visas issued to Portuguese was at 23,787.

Shortage of men - After 27 years of civil war, there's a shortage of men in the country. So it's not unusual for a man to have several "non-official" wives.

The local currency is called the Kwanza (AOA) - 1 USD is about 95 Kwanza.

The Angolan flag is red, black and gold - The red part of the flag represents the blood of Angolans killed in conflicts, the black represents the Angolan people, and as for the gold parts - the cogwheel represents industry, the gold machete represents peasantry, and the gold star is modeled after the star on the flag of the former Soviet Union

Angola. Looking in

 

From Angola to Zimbabwe: Guide to Key Africa Markets in 2018

For bond investors, Africa was a happy hunting ground last year.

Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust of three years ago.

But risks abound, among them policy tightening in advanced economies, local and global politics, weakening currencies and another fall in oil prices. And then there is credit risk.

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8 Interesting Facts About Angola You May Not Have Known

 1. Luanda, Angola's capital is the world’s most expensive city for expats.

 2. Angola's economy is one of the world's fastest growing - Between 1994 and 2004, Angola had   one of the world's fastest-growing economies. Economic growth in 2012 is expected to exceed   7%.

 3. Angola is very rich in natural resources - The country is the 2nd largest oil and diamond       producer in sub-Saharan Africa.

 4. Luanda is known as the " Paris of Africa" - This title is apparently due to the city's   sophisticated  culture and atmosphere.

 5. Portuguese is the official language - Other spoken languages include Umbundu, Kimbundu,     Kikongo, and Tchokwe.

 6. Angola gained independence in 1975 - The country got independence from Portugal on   November 11, 1975. It is the last country in Africa to gain independence from Portugal.

 7. Angola has a very young population - Interestingly, nearly 70% of the population in Angola is   under the age of 24.

 8. Angola is twice the size of Texas - The country spans 481,354 square miles, making it the world's 23rd largest country. It's the seventh largest country in Africa.

 

Well intervention and P&A market booms in Offshore West Africa

With oil reserves of 129.1 billion barrels, Africa holds 7.6% of the world’s proven reserves. More specifically, the West Coast of Africa is home to the continent’s two largest producing countries, Nigeria and Angola, while Equatorial Guinea, the Congo and Gabon have proven oil reserves not dissimilar to those found in the United Kingdom.

While the West Coast of Africa has been on the radar of many well intervention contractors for a while, it is fair to say that work over and P&A activity has recently been ramping up all the way from Mauritania to Angola. A multitude of factors can be linked to this increase in well work projects, including:

  • Regulatory Imperatives: As West African nations develop their oil & gas regimes, more scrutiny is being applied to operators to ensure they truly maximise the value of their assets during production and make sure that both financial and operational plans are put in place for safe P&A and decommissioning activities.
  • Oil Price: As in other parts of the world, the current oil price has led to a decrease in drilling activity and is forcing operators to look at their existing well stock for ways of increasing production and maximising ROI.
  • Technology: While investment is still being pumped into exploration projects throughout the region (BP announced a US$1bn partnership with Kosmos in Mauritania and Senegal; and eight of the top 20 discoveries in 2015 were in Africa), regional and international operators are looking at innovative technologies that will lower the cost of well intervention and increase the efficiency of operations for existing fields.

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