Country Report

Angola upstream summary

02 June 2020

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02 June 2020

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)
  - 2019 Namibe Basin Round
  - Ad-hoc awards
- Drilling
  - Drilling activity
Reserves and resources
- Oil Reserves
- Gas Reserves
Production
- Liquids Production
- Gas
Infrastructure
- Oil infrastructure
  - Luanda Refinery
  - New refineries
- 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
  - Bonuses, rentals and fees
- Royalty and other production taxes
  - Royalty
  - Import duty
  - Export duty
  - VAT
  - 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
  - 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)
  - Carry & Reimbursement
  - Bonuses, rentals and fees
  - 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 30 images and tables including:

Key facts: Table 1
Country Map
Reserves and contingent resources at 01/01/2020

Net Acreage 2020
Liquids and Gas Production 2020
Oil/Liquids
Production: Table 2
Reserves and resources: Table 1
Reserves and resources: Table 2
Liquid Reserves by Sector
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
Planned Licence Round Map
Angolan Exploration Drilling by Region
Exploration Drilling by Basin
Costs: Table 1
Costs: Table 2
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