bp in Angola

bp has been in Angola since the 1970s, and in the 1990s acquired interests in four deepwater offshore blocks some 200 kilometres northwest of Luanda 
 

bp is committed to maintaining a safe, reliable and sustainable operating company in Angola that enhances bp's exploration and production returns and contributes to the social and economic development of Angola.

bp is one of the largest foreign investors in Angola, having invested more than $30 billion as at the end of 2019. We are the operator of blocks 18 and 31 and have non-operated interest in blocks 15, 17, 29 as well as the Angola LNG plant in Soyo and the New Gas Consortium.

bp Angola in the context of bp worldwide is one of bp’s key centres for hydrocarbon exploration and development and a key part of the bp group’s activity in deepwater exploration and production. We have interests in 6 offshore deep and ultra deepwater blocks and in an LNG Plant in Angola.

Our activities in Angola represent an important part of the group’s portfolio.  Total net production from our operated assets and non-operated in Angola was 109 thousand barrels of oil per day in 2021.  

Production sharing agreements

bp operates in Angola under production sharing agreements which set out the terms of engagement with the Angolan Government. The agreements provide the framework for our relationship with the Concessionaire, and include financial provisions relating to how investment costs are recovered, how profits are shared, and requirements on non-financial matters such as health, safety and the environment, the need to recruit and develop local people and the preferential use of local labour and materials where possible.