Angola is seeing renewed oil and gas investment as it looks to increase exploration drilling, develop more deepwater projects, and attract new international players to help offset declining production from mature fields.
The National Oil, Gas & Biofuels Agency (ANPG) signed several agreements covering new acreage and additional upstream investment during the Angola Oil & Gas 2026 conference in Luanda. The deals were part of the 11 agreements announced at the event and covered deepwater Blocks 19, 34, and 35; Blocks 8 and 22; Block 33/24; Blocks 17/25 and 32/21; as well as further investment in Block 32.
Other agreements will support additional production from Blocks 15 and 31, while Etu Energias will receive funding to expand its operations at Block 14.
Angola also wants to rebuild its exploration pipeline, with ANPG targeting at least 10 exploration wells each year. Shell, which signed three agreements at the conference, also plans to carry out further exploration in the country.
Onshore exploration could also increase. Corcel is considering drilling an exploration well at KON-16 in the Kwanza Basin in mid-2027 after completing a 326-line-kilometer 2D seismic survey.
Existing operators are also planning further investment across their Angolan assets. TotalEnergies and its partners plan to invest $10 billion over the next five years, while further development at the Dalia field could unlock up to 400 MMbbl under Angola’s incremental production framework.
Chevron also plans to invest more in Block 0 after Angola extended the concession to 2050.
New international companies are also exploring opportunities in Angola’s upstream sector. Indonesia’s Pertamina plans to pursue an operator role in the country, while Panoro Energy is assessing opportunities across onshore and offshore assets, frontier exploration, and mature fields.
The new deals come as Angola looks to attract more exploration investment and develop existing fields to maintain oil production and bring additional resources into production.
source: worldoil.com
African Energy Council