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Angola

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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New Luanda Airport Starts Operating in 24 Months' Time

The new Luanda International Airport, which is being built since 2007 in Bom Jesus commune, Icolo e Bengo Municipality, is scheduled to be ready for inauguration and full operations in 24 months' time, disclosed last Saturday the Transports minister, Augusto Tomás. Speaking to the press, on the fringes of the assessment visit of the Head of State, João Lourenço, to the said airport works, the Transports minister disclosed also that the undertaking is at about 57.5% completion stage, adding that by the end of the year 2019 the infrastructure should be ready to start operations.

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Angola: Industry Sector Must Follow Agriculture Growth - Minister

The Industry sector has to prepare to follow the pace of the probable growth of the agricultural sector, by creating factories to transform the field products. The statement was made by the Minister of Industry, Bernarda Martins, to Angop on Wednesday, in the framework of the opening ceremony of the Agricultural Campaign 2017/2018, held in Catchiungo municipality, Huambo province. Reacting to the challenge launched by the Angolan President, João Lourenço, according to which the industrial sector must create strategies for the emergence of agricultural processing plants, the minister said that it is necessary to channel more investments to the sector to respond to this programme.

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Fábrica de Sabão: An old soap factory turned co-working space in Luanda slum

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Fábrica de Sabão (Portuguese for soap factory) is a co-working space and innovation hub located in one of the largest slums in Angola’s capital Luanda. The building, once an old soap factory, has been refurbished and is now lined with old shipping containers which have been turned into offices, workshops, meeting rooms and a market place where products made at Fábrica de Sabão are sold. The hub also functions as a start-up incubator, where entrepreneurs can draw on the knowledge and expertise of partners and affiliates at the workspace, together with receiving peer-to-peer mentorship, training and access to networking opportunities.

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