Angola’s Minister of Economy and Planning, Mário Caetano João, has indicated that the southern African country is forecasting economic growth of 3% in 2023, with an increase to an average of over 3.6% between 2023 and 2027 

With rising inflation and an increasing capital cost borrowing environment posing challenges for upcoming oil and gas projects, the overall oil and gas industry’s disclosed contract value saw a significant quarter-on-quarter (QoQ) decrease of 48% in Q1 2023, reveals GlobalData, a data and analytics company 

Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), TotalEnergies EP Angola and Sonangol Pesquisa e Produção SA signed a heads of agreement related to the future development of the Cameia and Golfinho fields, located on Blocks 20 and 21 in the Kwanza basin 

While Angola already represents one of the largest oil producers in Africa, the country is targeting heightened exploration and production across both mature and emerging basins in a bid to become a regional energy hub