TotalEnergies has secured a long-term extension to continue developing Angola’s Block 32, one of the country’s ultra-deepwater oil assets, through 2043. The agreement adds 17 more years of production and investment in the offshore block.
Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) confirmed that a framework agreement was signed in Luanda. The deal covers six offshore development zones in the Lower Congo Basin at water depths between 1,500 and 3,000 meters, including Cominhos, Alho, Cola, Manjericão, Colorau and Kaombo.
Both parties reached the agreement after negotiations that ran through 2025. The arrangement is designed to maintain investment, improve fiscal and operational stability, and support new production growth.
The partners also agreed to explore Angola’s incremental production regime, introduced in November 2024. The policy offers more favorable fiscal terms than the standard framework to attract additional investment in mature offshore blocks.
Block 32 has been in production since 2018 and spans 5,340 square kilometers, including the Kaombo project. TotalEnergies estimates reserves at 658 million barrels, with a production capacity of 230,000 barrels per day and about 40% of recoverable resources still available.
Before the agreement, TotalEnergies commissioned Shearwater Geoservices in October 2024 to conduct an advanced seismic survey across the Louro and Mostarda fields. The survey improves subsurface understanding and supports future investment decisions.
Angola’s incremental production regime reduces royalties from 20% to 15%, limits the government’s profit share to 25%, and increases cost recovery for operators. According to OilPrice (October 2025), the framework is designed to attract further upstream investment.
The policy has already shown results in other blocks. ExxonMobil made a discovery in Block 15 in 2024 under the new regime, indicating continued potential in Angola’s mature offshore assets under improved fiscal conditions.
Source: ecofinagency.com
African Energy Council