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Top 5 Service Contracts by Value Signed in Angola in 2022/23

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Oil Companies

Under an agenda to accelerate on- and offshore hydrocarbon exploration and production, International Oil Companies and the Angolan government have awarded a number of lucrative service contracts in the past twelve months

LUANDA, Angola, May 2, 2023/APO Group/ — 

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. With an ambitious national oil company (NOC) and a strong slate of regional and international oil companies active in the country, the past 12 months have seen a number of multi-million-dollar contracts awarded to service companies engaged in drilling, logistical support, well construction, maintenance and completion services.

Azule Energy: $7.8 Billion

In February 2023, Azule Energy, the largest independent equity producer of oil and gas in Angola, awarded contracts to the tune of $7.8 billion to several service companies for the development of the Agogo Integrated West Hub Development Project – one of the largest upstream projects in the country. The contracts were awarded to energy infrastructure and technology company, Yinson, for the supply of the FPSO unit and field operations and maintenance services; to oilfield services company Baker Hughes for the supply of the subsea production system and aftermarket services; and to engineering company Aker Solutions for the supply of the umbilical system.

Additionally, contracts were awarded to engineering, procurement and construction company Saipem for the supply of rigid flowlines and subsea structure transportation and installation; to engineering company Subsea 7 for risers, flowlines and subsea structures transportation and installation; and to engineering and technology company TechnipFMC for the supply of risers and flowlines.

Saipem: $900 Million

The country’s premier energy event will drive these deals, helping to connect E&P players with service companies and usher in a new era of market growth

In August 2022, Angola’s New Gas Consortium – comprising Azule Energy, NOC Sonangol and energy majors Chevron and TotalEnergies – awarded Italian multinational oilfield services company Saipem three engineering, procurement and construction (EPC) contracts for the development of the Quiluma and Maboqueiro fields located in the Lower Congo Basin offshore Angola. The one onshore and two offshore contracts are valued at $900 million and comprise EPC work including hook-up and commissioning assistance for the Quiluma platform.

Sonadrill: $327 Million

November 2022 saw Sonadrill – a joint venture between Sonangol and Bermuda-based global drilling solutions firm, Seadrill – bagging a $327-million extension contract for the provision of the company’s Libongos drillship in Angola. The rig will be used to drill 12 wells at a rate of $402,500 per day over a period of 25 months.

TechnipFMC: $250 Million

In addition to Azule Energy’s contract, TechnipFMC secured a $250-million contract with oil and gas major TotalEnergies for the engineering, procurement and supply of flowlines and connectors for the Girassol Life Extension project located in Block 17. The installation of flexible pipes is expected to extend the lifespan of the Girassol field by bypassing the outdated and rigid pipe bundles that have been in use since before production at the field began in 2021.

Sonadrill: $161 Million

In April 2022, Sonadrill inked a $161-million extension of the company’s West Gemini contract – an ultra-deepwater vessel exploring offshore Angola. With the deal, Sonadrill’s West Gemini drillship will drill an additional ten wells, with options to drill another eight wells. The contract has a term of 18 months and both the contractor and assignment are not publicly known. 

As Angola’s E&P activities grow, a suite of high-value service contracts can be expected, along with extensions of existing deals. The country’s premier energy event – Angola Oil & Gas Conference & Exhibition 2023 – will drive these deals, helping to connect E&P players with service companies and usher in a new era of market growth. Keep following Energy Capital & Power’s website and social media channels for more information about the 2023 edition of the event.

Distributed by APO Group on behalf of Energy Capital & Power.

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

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Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

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Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

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IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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