Oil
Angola is the second-largest oil producer in Africa after Nigeria. The country had proven oil reserves of about 12.7bn barrels in 2013. In 2008, the country reached a peak of production of about 1.9mn barrels per day (bpd), cutting down to 1.8mn bpd in 2013.
In the period 2002-2008, the country's oil production grew on average by 15% a year. The production of crude oil is expected to grow at least until 2017 to about 2.1-2.2mn bpd.
Angola has several oil projects that are scheduled to start production by 2020. Many oil companies invested in the country and are planning to explore in its pre-salt blocks.
Natural Gas
The current natural gas production in Angola is small and most of the gas is flared or re-injected into oil wells. In the middle of 2013, the country started exporting LNG from a newly-opened LNG facility at Soyo.
In 2013, the natural gas production in the country reached 870 mcm and is expected to nearly double by the end of this decade.
Angola had proven natural gas reserves of about 366 bcm in 2013. All the current exploited reserves are from associated gas discoveries. The proven gas reserves are expected to increase in the coming years with the development of new drilling sites onshore and offshore after the latest round of concessions by state energy firm Sonangol.
Challenges
Only 40% of the Angolans have access to electricity which makes solid biomass and waste (wood, charcoal, manure and crop residues) major sources of energy for the local population. Significant investments are being made to expand access to electricity, water and transport.
According to the United Nations, about 36% of Angolan's population live below the poverty line. The unemployment rate in the country totalled 26% in 2013.