Angola aims to achieve long-term energy security and industrial growth by leveraging its 9 billion barrels of oil and 11 trillion cubic feet of natural gas resources.
The country also intends to grow the technical and financial capabilities of local entities like Angolan upstream player ACREP.
These entities are crucial for ensuring the continued and sustainable development of the country’s hydrocarbon resources.
In line with its commitment to drive investment in Angola’s oil and gas market, ACREP has joined the African Energy Week (AEW): Invest in African Energy 2024.
The conference is taking place from 4 – 8 November in Cape Town – as a Silver Co-Sponsor of the “Invest in Angola” roundtable.
It would be featuring the country’s key energy policymakers, regulators and private sector players, and the roundtable will outline the latest projects and current investment and partnership opportunities shaping Angola’s energy industry.
ACREP is one of Angola’s leading indigenous explorers and has played a pivotal role in driving upstream activity for the past two decades.
ACREP has drilled over 15 wells, resulting in two marginal discoveries in the onshore Cabinda Norte Block, and has invested over $80 million in exploration activities since 2004.
In addition to maintaining oil production above 1.18 million barrels per day, Angola is also aiming to diversify its energy mix, with a 25% target set for gas in the energy mix by 2025.
