Diplomatist Magazine Diplomatist September 2019 | Page 54

A frica Diary
India-Angola
Energy Diplomacy
New Heights and The Way Ahead
BY Dr. Faisal Ahmed and Shubham Yeole*
I
ndia and Angola have developed strong bilateral
engagements in the last few decades. A significant enabler
for this deepening relationship is the energy sector. The
way the two countries are attaining newer heights in mutual
cooperation in this sector is commendable. Therefore, to attain
a strategic depth in their common interests on energy security,
it is pertinent that the two countries give more policy space
to it. We outline five such drivers of India-Angola energy
diplomacy which could potentially redefine our bilateral
initiatives.
Investment in the oil and gas sector
Angola’s proven reserves of oil are estimated to be
9 billion barrels, and its output stands at an approximate
1.55 million barrels a day. Moreover, it has a proven
natural gas reserve of 11 trillion cubic feet, with production
estimated to be 17,904.5 million cubic feet as per the data
from the United States International Trade Administration.
Such resource endowments provide scope for significant
economic development and business opportunities. The oil
business in Angola is managed by the Sociedade Nacional
de Combustíveis de Angola (Sonangol) Group, a state-owned
company. In fact, any international oil company intending
to work in Angola has to engage in partnership with this
company. Sonangol’s strategic objective as envisaged under
its plan for 2018-2022 seeks to enhance its participation in the
54 • Extraordinary and Plenipotentiary Diplomatist • Vol 7 • Issue 9 • September 2019, Noida