(Ecofin Agency) – 3th Quarter 2024 was particularly positive for the oil multinational Shell which is seeking new investment opportunities in African oil and gas, particularly in Angola.
Although it announced a few months ago its decision to reduce its workforce dedicated to oil and gas exploration by 20% around the world, Shell is targeting new investments in Africa where it is well established.
According to information relayed on Tuesday, December 17, citing sources close to the oil industry, the Anglo-Dutch oil major is seeking to position itself in Angola, particularly in the country’s offshore zone, from which it withdrew two decades ago.
It is known that about three weeks ago, the multinational signed a memorandum of understanding with the Angolan National Agency for Oil, Gas and Biofuels (ANPG) with a view to studying in detail several offshore areas, specifically blocks 19, 34, 35, 36, 37 and 43.
The study specifically aims to clarify the potential of these areas of interest in terms of oil and gas resources, potentially paving the way for the planning of future hydrocarbon exploration and even production operations.
This prospect, the eventual realization of which still depends on the conclusion, for example, of one or more production sharing contracts (PSC) sealing the concrete commitment of the stakeholders, would offer Shell the opportunity to increase its oil profits. .
For the 3th quarter 2024, Shell announced that it had “again recorded good results”marked by 6 billion dollars in profit, “despite the drop in crude prices and refining margins”.
Abdel-Latif Boureima
Edited by Wilfried ASSOGBA
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