Baku: The Vice-President of Angola, Esperança da Costa, engaged in discussions with the multinational energy company Equinor in Baku, Azerbaijan, focusing on potential partnerships aimed at the energy transition and decarburization of Angola’s oil and gas sector. The talks were held during a meeting with Philippe Mathieu, Equinor’s executive vice-president for international exploration and production, where they explored the foundational elements necessary for solidifying this partnership.
According to Angola Press News Agency, the Vice-President shared that Angola and Norway have already established a memorandum of understanding involving Equinor and Angola’s state oil company, Sonangol, specifically targeting decarburization initiatives. The discussions included examining Norway’s experiences with electrifying oil platforms and considering how these could be applied in Angola.
Equinor, headquartered in Stavanger, Norway, is a state-owned entity operating within the energy sector. In addition to discussion
s with Equinor, Vice-President Costa met with Álvaro Lario, president of the International Fund for Agricultural Development (IFAD), to evaluate various projects in Angola, particularly in agriculture and fisheries. Although no public statements were made post-meeting, ANGOP reported that the project implementations were generally viewed as positive, notwithstanding challenges such as droughts exacerbated by climate change in southern Angola.
The Angolan delegation at COP29 has expressed a commitment to mitigating these challenges. IFAD’s ongoing projects, running through 2025, have prompted requests for increased co-financing from Angolan authorities and considerations for future investments beyond 2025.
Further bilateral meetings concerning energy and climate change are anticipated on Wednesday. Vice-President Costa’s participation at the COP29 High Level Summit included a call for increased carbon market funding, highlighting Angola’s challenges due to climate change. Representing President João Lourenço
, Costa leads the Angolan delegation at COP29, which commenced on November 11 and continues until November 22, featuring numerous global leaders.