ANGOLA: Xuan Thien Group to Explore Oil and Gas in the Etosha/Okavango basin
On March 17, 2025, in the capital Luanda (Angola), Xuan Thien Group and the Angolan National Agency for Petroleum, Gas and Biofuels (ANPG) signed a joint research investment project to explore oil and gas in the Etosha/Okavango basin, in the area of three provinces of Cunene, Cuando and Cubango in Angola.
The signing ceremony took place solemnly at the ANPG office with the presence of Mr. Duong Chinh Chuc – Ambassador Extraordinary and Plenipotentiary of Vietnam to Angola.
Angola is the second largest oil producing country in Africa. The Etosha/Okavango research area covers an area of about 200,000 km² and is assessed by the Angolan government as having rich oil and gas potential, which can bring large exploitation output. This is the first investment project of a large Vietnamese economic group in Angola. The project also marks Xuan Thien’s strategic step into the oil and gas exploration and exploitation industry.
New turning point in development strategy
Xuan Thien is one of the leading corporations in Vietnam in the fields of hydropower, renewable energy, high-tech agriculture, construction materials and infrastructure. The cooperation with ANPG demonstrates the Group’s strategic vision and commitment to participating in the global energy market, especially in the African region. Xuan Thien is also investing in green steel production in Nam Dinh and Hue, so it is in great need of fuel, raw materials, materials and iron ore.
Speaking at the signing ceremony, Chairman of Xuan Thien Group , Mr. Nguyen Van Thien said: “We are proud to be a business that has been investing heavily in Angola in many fields of agriculture, forestry, hydropower and mining, creating thousands of jobs for people and contributing to the economic development of the locality. The signing of the investment project in the oil and gas sector today is an important milestone, marking the transformation of the Group, becoming an international energy group, as well as opening up development cooperation between the two countries in a new field”.
Mr. Duong Chinh Chuc – Ambassador Extraordinary and Plenipotentiary of Vietnam to Angola shared: “Over the years, the good relationship between the two countries has been maintained, but economic cooperation is still very modest, especially since there have been no projects from large Vietnamese enterprises implemented in Angola. To improve this, the Government and agencies of both sides have tried very hard. During the meetings between the leaders of the two countries, both sides agreed to promote bilateral cooperation and soon have specific achievements. At the 7th meeting of the Vietnam – Angola Intergovernmental Committee in March 2024, both sides also agreed on the same. After a period of promotion, Xuan Thien Group has become a pioneer of Vietnam to invest in Angola in many fields and now, together with ANPG, has signed a large-scale oil and gas investment project”.
International cooperation opportunities
ANPG representatives highly appreciated the potential and project implementation capability of Xuan Thien Group, and believed that this cooperation would promote oil and gas exploration activities in the Etosha/Okavango basin, an area assessed to have great oil and gas potential.
ANPG representative hopes that Xuan Thien Group will soon obtain the necessary license from the Vietnamese Government to be able to implement the project as soon as possible.