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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.

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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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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

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

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

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

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