Angola's leading industry event will be held in Luanda from October 2-3, bringing together international delegations from China, the United States, the United Arab Emirates, Australia, Europe, and other countries to explore potential collaborations with Angolan projects.
Angola's Cabinda refinery project is nearing its completion, with operations anticipated to commence by the end of 2024. The initial phase of the refinery, targeting a capacity of 30,000 barrels per day (bpd), is expected to be fully operational by July 2025. Subsequently, the second phase will augment the capacity to 60,000 bpd. As Angola endeavors to expand its refining capabilities, the upcoming Angola Oil & Gas (AOG) conference will feature a panel discussion focused on the nation's refining strategies and additional investment opportunities across the entire oil and gas value chain.
Angola stands as the second largest oil producer in sub-Saharan Africa; however, its only operational refinery, the Luanda refinery with a capacity of 65,000 barrels per day, satisfies merely 20% of the national demand. Insufficient investment in the downstream sector has resulted in a dependence on imported petroleum products. Nevertheless, the establishment of new refining facilities, pipelines, and logistics centers is expected to reverse this situation. In addition to the existing Cabinda refinery, Angola is in the process of constructing the Soyo refinery, which will have a capacity of 100,000 barrels per day, and the Lobito refinery, projected to produce 200,000 barrels per day, with both facilities aiming for initial production by 2025. The Lobito refinery is anticipated to enhance Angola's refining capacity by 200%. In March 2024, the engineering firm KBR secured a project management contract for the Lobito refinery.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Integrated infrastructure initiatives extend beyond mere refinement, offering fresh prospects for regional distribution. Angola is in the process of developing an integrated terminal and logistics hub in Soyo, which will have the capability to produce 65,000 barrels per day (bpd) and store two million barrels. This project is anticipated to commence operations by 2026. Furthermore, the Kwanza Terminal Pipeline Routes Project is projected to produce 25,000 bpd and store one million barrels, with operations expected to begin by 2029. The existing and forthcoming infrastructure is designed to facilitate the development of new concessions, especially as a Limited Tender in 2025 will open an additional ten blocks for exploration.
The growth of Angola’s downstream sector is poised to significantly improve the accessibility and cost-effectiveness of Angolan petroleum products while generating new economic opportunities for the nation. Downstream projects, encompassing construction, transportation, research and development, and manufacturing, can act as a driving force for broader economic advancement in Angola. Consequently, the Crude to Commerce panel will examine the downstream industry's contribution to economic development. Presenters will offer updates on projects, identify areas of opportunity, and outline strategies for linking Angola to regional markets.
Download the AOG 2024 conference program here (https://apo-opa.co/