Service companies have been pivotal in the growth of Angola’s upstream, midstream, and downstream sectors, positioning the country among Africa’s leading oil and gas producers. Various multi-million-dollar deals have been signed in recent months, all of which are expected to expand the number of operational energy projects in the country. As plans to increase exploration and production unfold, service companies are poised to be at the center of the industry’s evolution.
Azule Energy Awards $7.5Bn in Contracts
In May 2023, Angola’s largest independent energy company, Azule Energy, awarded $7.5 billion worth of contracts to various energy service firms, including Malaysia’s Yinson, America’s Baker Hughes, Norway’s Aker Solutions, Italy’s Saipem, and UK companies Subsea 7 and TechnipFMC, for the Agogo West Hub Project.
Yinson is providing the Floating Production Storage and Offloading unit and field operations; Baker Hughes, the subsea production system; and Aker Solutions, the umbilical system for the project. Saipem is responsible for rigid flowlines and subsea structure transportation and installation, while Subsea 7 and TechnipFMC will manage the supply of risers, flowlines and related engineering services.
Etu Energias Contracts SLB for Block 2/5 Works
Etu Energias, Angola’s largest indigenous exploration and production firm, signed a contract with global technology company SLB for engineering wells and end-to-end technological services for Block 2/5. The deal was inked during the Angola Oil & Gas 2023 conference – which took place in September 2023 – and is expected to support Etu Energias in enhancing its exploration and production activities in the block.
Sapura Energy Bags $300M Contract
In October 2023, Malaysian integrated oil and gas services company, Sapura Energy, closed a $300 million contract with Azule Energy for the provision of offshore transportation and installation services for Angola’s offshore Northern Gas Complex project. Under the terms of the contract, Sapura Energy will provide engineering, transportation and installation services for the Quiluma and Maboqueiro platforms. The project is set for completion by 2026.
KCA Deutag’s $60M Deal
In September 2023, UK-based international oil and gas services firm, KCA Deutag, secured a $60 million contract extension for the provision of core drilling and maintenance services for two offshore platforms in Angola. The company will continue providing the Angolan client with crane operations, maintenance services, equipment management and rental services for an additional year.
Oceaneering Selected for GIRLIFEX Project
U.S.-based engineering services firm, Oceaneering, won a contract by French multinational energy company TotalEnergies to handle transportation and installation services for the Girassol Life Extension project in Angola’s Block 17. The contract, along with Oceaneering’s involvement in a jumper installation project in the Stabroek block offshore Guyana, holds a combined value of $100 million. Oceaneering is responsible for air and saturation diving services, project management, engineering and procurement activities.
