The Brazilian oil company Petrobras is expected to resume investments in Angola, as announced by the company’s CEO, Joelson Falco Mendes, during his participation in the Angola-Brazil Economic Forum, recently held in Luanda. Speaking on a panel focused on the energy transition, Mendes noted that Petrobras has previously operated in Angola, giving it valuable insights into the market and its potential. According to Mendes, as long as the necessary conditions are in place and the opportunity arises, Petrobras is ready to re-enter the Angolan market.
Petrobras has a point distribution model similar to the one used in Angola, as revealed by Joelson Falco Mendes. The company, now celebrating 70 years since its founding, has been making strides to reduce its environmental impact. Petrobras currently has a production capacity of over 2 million barrels per day, which could reach 3 million barrels in the next decade.
75% of Energy from Natural Gas by 2050
The National Petroleum, Gas, and Biofuels Agency (ANPG) presented a forecast for the sector’s exploration up to 2050, highlighting that the majority of production will shift to natural gas, in contrast to current trends. According to the sector’s regulator, about 75% of exploration by 2050 will be dedicated to natural gas, positioning it as the primary resource, marking a substantial move toward more environmentally sustainable activities.
Meanwhile, ANPG’s projections indicate that oil exploration will account for only 10% of production by 2050, a notable shift from Angola’s current position as the continent’s second-largest producer. As outlined by the regulatory authority, Angola is preparing for a new phase in its oil exploration journey, which began in 1950 and peaked in 2008. This history is also marked by Sonangol’s previous accumulation of responsibilities until it handed over regulatory duties to ANPG.
