Oman’s OQ Evaluates Investment Opportunities in Angola’s Energy Sector
Oman’s OQ is exploring new energy opportunities in Angola through agreements covering hydrocarbons, downstream industries, and renewable power, as both sides seek to expand cooperation across the sector.
Oman’s OQ is evaluating investment opportunities across Angola’s energy sector under two memoranda covering oil and gas, LNG, fertilizers, petrochemicals, and renewable power.
The agreements were signed during Omani Sultan Haitham bin Tarik’s visit to Angola. One memorandum was signed with Sonangol, Angola’s state-owned oil company, while OQ Alternative Energy signed a separate agreement with Angola’s Ministry of Energy and Water.
Under the Sonangol agreement, OQ will assess opportunities across upstream exploration and production, LNG and fertiliser projects, alongside gas monetisation through ammonia and petrochemicals.
The memorandum also provides for cooperation on the supply and purchase of oil and petrochemical products, as well as the exchange of technical and implementation capabilities across the energy value chain.
Renewable Power Also Under Review
OQ Alternative Energy and Angola’s Ministry of Energy and Water are separately evaluating a renewable-energy project with a capacity of about 500 megawatts, supported by a battery energy storage system
The project is being considered under an independent power producer model. It remains at the evaluation stage and has not been announced as a final investment commitment.
The two memoranda do not disclose a financial value for OQ’s potential investments in Angola.
For OQ, the agreements broaden the potential scope of its presence in Angola beyond upstream hydrocarbons to include gas-based industries, downstream products, and renewable electricity.
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For Angola, the discussions cover several parts of the energy chain, from resource development and LNG to industrial processing and new power generation capacity
Any investment will depend on the technical and commercial assessment of individual projects and subsequent agreements between the parties.
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