Angola’s oil and gas industry is undergoing a major transformation, driven by a robust six-year licensing round launched by the National Oil, Gas & Biofuels Agency (ANPG). This strategic initiative aims to attract significant international investment, expand operations, and modernize regulations to secure the nation’s energy future.
The licensing round offers up to 55 blocks in phases, providing regular and transparent opportunities for international oil companies (IOCs) and qualified Angolan operators to explore and develop Angola’s vast hydrocarbon potential. This strategy has already seen success. In January 2024, the ANPG concluded its 2023 licensing round, receiving 53 bids for 12 blocks.
The upcoming rounds will focus on the Kwanza and Benguela basins (2025) and further propel investment and partnerships. Meanwhile, the ANPG is actively promoting exploration in the frontier Namibe Basin, where ExxonMobil plans a $200 million investment to drill an exploration well later this year.
Angola boasts a proven track record, ranking as sub-Saharan Africa’s second-largest oil producer and one of the top five global destinations for oil and gas investment. Its success rate for these ventures exceeds 30%, attracting major players like Chevron, TotalEnergies, ExxonMobil, and Azule Energy, alongside prominent Angolan operators.
NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), commended the ANPG’s efforts, stating, “Under Jerónimo’s leadership, the ANPG’s proactive approach is transforming Angola’s oil and gas landscape. Their comprehensive efforts are not only enhancing the nation’s energy security but also attracting significant investment.”
Several legislative reforms further strengthen Angola’s investment climate, including streamlining exploration, development, and production processes. These reforms also emphasize local content development and ensure a competitive landscape for awarding petroleum concessions.
