Angola's state-owned oil company Sonangol has confirmed new hydrocarbon reserves off its coast, marking progress in the country's offshore exploration efforts. According to reports, Sonangol and its exploration partner ANPG successfully completed drilling and testing of the Katambi-2 appraisal well in Block 24 of the Benguela Basin. The well encountered two productive intervals with reservoir quality metrics that exceeded results from the earlier Katambi-1 discovery well, demonstrating the commercial viability of the find.
The confirmation of multiple productive zones at Katambi-2 strengthens the investment case for developing the Block 24 assets. Strong reservoir characteristics suggest both oil and gas production potential, which could support Angola's oil export capacity and energy revenues. The discovery adds to the country's exploration successes and comes as global energy companies continue to pursue offshore development opportunities across West Africa's productive basins.
The results from Katambi-2 position Sonangol to move forward with development planning as it seeks to maintain Angola's role as a significant crude oil producer and expand its natural gas portfolio. The appraisal campaign demonstrates the continued commercial interest in deepwater exploration offshore Angola despite market volatility in the energy sector.