Country report
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60 Pages

Angola upstream summary


Angola upstream summary

Report summary

Angola is Sub-Sahara Africa's second largest oil producer behind Nigeria. Production growth has stalled in recent years and we expect it will produce 1.75 million b/d in 2016, all of which will come from the Lower Congo Basin. Production is expected to break through 2 million b/d early in the next decade. However, as over 75% of liquids output, both current and future, is from deepwater, Angola's upstream industry is particularly vulnerable to a prolonged period of low oil ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 991.52 KB 60 Pages, 18 Tables, 17 Figures
  • Country Overview XLS - 737.00 KB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • 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
    • Angolan Independence and Re-drawing of Contracts
      • Deepwater Angola (Post 1990)
      • Angola 2005/2006 Licensing Round
      • Angola 2007/2008 Licensing Round (postponed)
      • Angola 2010/2011 Kwanza Basin Licensing Round (pre-salt)
      • Angola 2013 Onshore Pre-salt Round
      • Future Rounds
    • Drilling
      • Drilling activity
    • Drilling Outlook
    • Drilling Activity
  • Reserves and resources
    • Oil Reserves
    • Gas Reserves
    • Technical Reserves
  • Production
    • Liquids Production
      • Current and future production
      • Historic 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)
      • Recoverable Costs
      • Investment uplift/credit
      • Cost Carry Forward
      • 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)
      • Recoverable Costs
      • Cost Carry Forward
      • Service Fee
      • Petroleum Production Tax (PPT)
      • Petroleum Transaction Tax (PTT)
      • Corporate (or Petroleum) Income Tax
      • Taxable Income
      • Tax Rate
      • Fiscal/Contractual Ring-Fences
      • Dividend Withholding Tax
    • Historical background
      • Pre-1970
      • 1970s-1980s
      • Production Sharing Contracts
      • 1990s
      • Late 1990s-onwards

In this report there are 35 tables or charts, including:

  • Executive summary
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Key companies
    • Remaining Commercial and Technical Reserves at 01/01/2016
    • Net Acreage 2016
    • Liquids and Gas Production 2015
  • Geology
    • Map of Angolan Petroleum Basins
    • Major Tectonic Phases, Stratigraphic Events and Depositional Stratigraphy of Angola
  • Exploration
    • Exploration: Table 1
    • Exploration: Table 2
    • Exploration: Table 3
    • Licence Map
    • Map of Deepwater Blocks
    • Blocks Awarded
    • Drilling Activity by Well Type
    • Exploration Drilling by Basin
    • Exploration Drilling by Region and Oil Price
  • Reserves and resources
    • Reserves and resources: Table 1
    • Commercial Remaining Liquid Reserves by Region at 01/01/2016 (p+p)
    • Reserves and resources: Table 2
  • Production
    • Oil/Liquids
    • Production: Table 2
    • Liquids Production by Region
    • Gas Production
  • Infrastructure
  • Costs
    • Costs: Table 1
    • Costs: Table 2
    • Capital Expenditure by Region (US$ Million)
    • Costs: Table 3
    • Costs: Table 4
    • Operating Expenditure by Region (US$ Million)
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • Fiscal terms: Table 5
    • Fiscal terms: Table 6
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