The event will focus on consolidating financing strategies to support the growth of the country’s energy
The “Financing Angolan Energies” session at the Energy Finance Summit will focus on how Angola can secure essential investments to expand its oil and gas resources for local use and global export.
With over 9 billion barrels of oil and 11 trillion cubic feet of gas in proven reserves, Angola’s energy potential is vast. However, to unlock these resources, particularly from mature fields, the country is introducing new fiscal incentives to attract investors. Justin Cochrane, Africa Technical Research Head of S&P Global Commodity Insights, will moderate the session, featuring speakers from investment firm Gemcorp and Angolan oil company Etu Energias. They will explore competitive fiscal terms, climate concerns, and strategies for expanding upstream investment across the energy value chain.
“Securing investment is crucial for Angola’s energy sector growth. Our new fiscal policies and innovative financing tools are designed to attract the right partners,” said a Spokesperson from the Angolan Ministry of Energy.
One of the pivotal projects driving Angola’s offshore energy expansion is TotalEnergies’ $6 billion Cameia and Golfinho field development in Block 20/11. Through a mix of equity investments and strategic partnerships with Petronas and Sonangol, this project is setting the stage for Angola’s future oil production. TotalEnergies’ Begonia oil field in Block 17/06 is also expected to produce 30 000 barrels per day by the end of 2024.
Angola’s downstream sector is advancing quickly as well, with projects like the 200 000 barrels per day Lobito Refinery, 30 000 bpd Cabinda Refinery, and 100 000 bpd Soyo Refinery set to be completed by 2025.
“These projects not only increase refining capacity but also create self-sufficiency in petroleum products for Angola,” said a representative from the African Export-Import Bank, which secured $335 million in project financing for the Cabinda Refinery.
Angola’s push towards cleaner energy is also evident in its bio-refinery initiative at the Luanda Refinery Complex. This project could attract green finance from sustainability-focused institutions, further aligning the country’s energy sector with global demands for cleaner, more efficient energy production.
As AEW 2024 brings together investors, project operators, and government officials, Angola is positioning itself as a leading destination for energy investments, particularly in oil and gas, which remain central to its economy and energy strategy.
--ChannelAfrica--
