Country Report

Angola upstream summary

06 August 2018

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06 August 2018

Angola upstream summary

Report summary

Angola is Sub-Saharan Africa's second largest oil producer behind Nigeria. Oil production is underpinned by prolific deepwater acreage which was explored in the 1990s. The first of many major deepwater developments on blocks 14 to 18 began in 1999 when Chevron's Kuito, came onstream. By 2005, four other world-class deepwater projects were producing from Total's Block 17 and ExxonMobil's Block 15. As a sign of its growing international importance, Angola joined OPEC in ...

Executive summary
Key facts
Location maps
Key companies
Geology
- Introduction
  - Plate Tectonic Evolution
- Stratigraphy
- Lower Congo Basin
  - Pre-salt sequence
  - Aptian Salt Unit
  - Post-Salt Sequence
- Kwanza Basin
  - Pre-Salt Sequence
  - Aptian Salt Unit
  - Post-Salt Sequence
- Namibe Basin
Exploration
- Licensing
  - Early exploration
  - 2005/2006 Licensing Round
  - 2007/2008 Licensing Round (postponed)
  - 2010/2011 Kwanza Basin Licensing Round (pre-salt)
  - Angola 2013 Onshore Pre-salt Round (Cancelled)
  - Future Rounds
  - Active blocks
- Drilling
  - Drilling activity
Reserves and resources
- Oil Reserves
- Gas Reserves
Production
- Liquids Production
- Gas
Infrastructure
- Oil infrastructure
  - Luanda Refinery
  - Proposed Lobito Refinery
- Gas infrastructure
- Angola LNG
  - LNG Plant
  - Gas supply and associated pipelines
Costs
- Capital costs
  - Capital expenditure by location
- Operating costs
  - Operating expenditure by location
Policy and regulation
- Key legislation
- State oil company
- State participation
- Licensing
Fiscal terms
- Overview
- Upstream
- Mid/Downstream
  - Pipelines
  - Gas Utilisation
- Current fiscal terms
- Production Sharing Contracts
  - NOC equity participation
  - Carry & Reimbursement
  - Bonuses, rentals and fees
  - Production bonuses
  - Area rentals
  - Training fees
  - Other bonuses and fees
- Royalty and other production taxes
  - Royalty
  - Import duty
  - Social development levies
  - Export duty
  - Environmental & CO² taxes
  - Other Production Taxes
  - Domestic Market Obligation (DMO)
  - Contractor Revenue Entitlement
  - Product Pricing
  - PSC Cost Recovery
  - Recoverable Costs
  - Investment uplift/credit
  - Cost Carry Forward
  - PSC Profit Sharing
  - Corporate (or Petroleum) Income Tax
  - Taxable Income
  - Tax Rate
  - Additional Profits Taxes
  - Fiscal/Contractual Ring-Fences
  - Dividend Withholding Tax
- Cabinda Concession: Post-January 1982 Terms
  - NOC equity participation
  - Carry & Reimbursement
  - Bonuses, rentals and fees
  - Production bonuses
  - Area rentals
  - Training fees
  - Other bonuses and fees
  - Import duties
  - Royalty
  - Export duty
  - Environmental & CO² taxes
  - Other Production Taxes
  - Domestic Market Obligation (DMO)
  - Investment uplift/credit
  - Corporate (or Petroleum) Income Tax
  - Taxable Income
  - Tax Rate
  - Additional Profits Taxes
  - Fiscal/Contractual Ring-Fences
  - Dividend Withholding Tax
- Risk Service Agreement (RSA)
  - NOC equity participation
  - Carry & Reimbursement
  - Bonuses, rentals and fees
  - Production bonuses
  - Declaration of Commerciality bonus
  - Training fees
  - Other bonuses and fees
  - Import duties
  - Export duty
  - Environmental & CO² taxes
  - Other Production Taxes
  - Domestic Market Obligation (DMO)
  - Service Fee
  - Petroleum Production Tax (PPT)
  - Petroleum Transaction Tax (TTP)
  - Corporate (or Petroleum) Income Tax
  - Taxable Income
  - Tax Rate
  - Fiscal/Contractual Ring-Fences
  - Dividend Withholding Tax
- Marginal field terms
- Historical background
  - Pre-1970
  - 1970s-1980s
  - Production Sharing Contracts
  - 1990s

Tables and charts

This report includes 31 images and tables including:

Key facts: Table 1
Country Map
Remaining Commercial and Technical Reserves at 01/01/2019

Net Acreage 2019
Liquids and Gas Production 2018
Oil/Liquids
Production: Table 2
Reserves and resources: Table 1
Reserves and resources: Table 2
Commercial Remaining Liquid Reserves by Region at 01/01/2018
Reserves and resources: Table 3
Liquids Production by Region
Gas Production
Fiscal terms: Table 6
Map of Angolan Petroleum Basins
Major Tectonic Phases, Stratigraphic Events and Depositional Stratigraphy of Angola
Exploration: Table 1
Exploration: Table 2
Licence Map
Angolan Exploration Drilling by Region
Exploration Drilling by Basin
Costs: Table 1
Costs: Table 2
Capital Expenditure by Region (US$ Million)
Costs: Table 3
Costs: Table 4
Fiscal terms: Table 1
Fiscal terms: Table 2
Fiscal terms: Table 3
Fiscal terms: Table 4
Fiscal terms: Table 5