Angola has initiated a new wave of oil and gas investments aimed at increasing exploratory drilling, deepwater developments, and attracting new international players. This move is intended to compensate for the decline in production from mature fields.
New Agreements in the Upstream Sector
The National Oil, Gas, and Biodiesel Agency of Angola (ANPG) signed a series of agreements at the 2026 Oil and Gas Conference in Luanda to cover new territories and further investments in Angola's upstream sector. These agreements include 11 new contracts covering deepwater blocks 19, 34, and 35; blocks 8 and 22; block 33/24; blocks 17/25 and 32/21; and further investment in block 32.
Increasing Production and Attracting New Investments
Additional agreements aim to support increased production from blocks 15 and 31 and to finance the development of Etu Energias in block 14. Angola is also looking to rebuild its exploratory pipeline, with ANPG targeting at least 10 exploratory wells to be drilled each year. Shell, which signed three agreements at this conference, plans to continue exploration in the country.
Onshore activities may also increase. Corcel is considering drilling an exploratory well in KON-16 in the Kwanza basin in mid-2027 after completing a 2D seismic campaign spanning 326 kilometers.
Existing operators are planning further investments in their Angolan portfolios. TotalEnergies has announced that it, along with its project partners, intends to invest $10 billion over the next five years, while further development in the Dalia field could unlock up to 400 million barrels of new reserves under Angola's increased production framework.
Chevron is also planning to invest further in block 0 after extending its concession until 2050. Meanwhile, new international players are evaluating entry into Angola's upstream sector. Indonesia's Pertamina has announced plans to achieve an operating position in the country, and Panoro Energy is exploring opportunities in onshore, offshore, frontier exploration, and the development of mature fields.
Read more: Signing of NGL 3100 Feed Sale Contract in Dehloran
