Oil & Gas

Oil and diamonds dominate Angola’s mineral industry with oil production and its supporting activities contributing about 85% of GDP. Angola, a member of OPEC, has risen from the fourth to the second largest producer of crude petroleum in Africa (18.8%) and in 2008 accounted for 2.5 per cent of world production. Output increased by 9.37 per cent in 2008 to a level just short of the country’s assigned quota of 1.9 Mbbl/day. Angola is the fourth largest producer of diamonds in Africa accounting for 9.25 per cent of total output. In addition to the currently worked alluvial and eluvial diamond deposits, about 700 kimberlite pipes containing reserves of about 50 Mct are known to exist in the country, extending in a well-defined line running diagonally across the middle of the country from NE-SW. Some 90% of the gold produced in Angola is alluvial related to Archaen greenstones dominantly in from the Cabinda area. Angola in addition has significant undeveloped resources of copper, gold, gypsum, phosphate rock, iron ore, manganese and other base metals; while Ni-Cr and PGE occurrences are reported from southwestern Angola.

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