Alcides Andrade, Board Member of Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG), emphasized the strategic importance of these initiatives: “We are already working on a plan for post-2025 and are executing our exploration strategy, focusing on evaluating the country's sedimentary basins.” This marks a continuation of Angola’s first multi-year auction, which covered 50 onshore and offshore blocks during the 2019–2025 period.
Current Production and Future Goals
Angola, Africa’s second-largest crude oil producer after Nigeria, has stabilized production at approximately 1.1 million barrels per day (mbbl/d), a significant drop from its peak of 2 mbbl/d in 2008. Andrade revealed that 35 concessions have been awarded under the ongoing licensing strategy, with plans to increase this number to 41 by the end of 2024 and 50 in 2025.
These efforts come as Angola aims to address challenges associated with aging oilfields and declining output. The government is optimistic that the new rounds will rejuvenate production while fostering economic growth.
Key Partnerships and Investments
Angola's energy sector has recently seen major international collaborations. In July 2024, TotalEnergies awarded Vallourec a contract for the Kaminho deep-water project, involving the supply of nearly 5,000 tonnes of oil country tubular goods and related services. Additionally, Aker Solutions secured a long-term agreement with Azule Energy in June 2024 to provide engineering, procurement, and construction (EPC) services for brownfield projects and modifications on two floating production storage and offloading (FPSO) units. These contracts underline Angola’s appeal to global energy players.
Economic Impact
The ANPG’s strategy underscores Angola’s ambition to solidify its position in Africa’s energy market. With investments in both existing and new projects expected to total tens of billions of dollars, the upcoming licensing rounds are poised to drive further development in the sector. These initiatives are critical for sustaining production levels and enhancing Angola's economic stability.
As Andrade stated, “We are committed to executing a robust plan that ensures Angola remains a key player in the global energy market.” The country's proactive approach to exploration and production marks a pivotal step in securing its energy future.
