On the back of its multi-year licensing round launched in 2019, Angola is positioned to award 60 concessions by the end of 2025. Speaking at African Energy Week, Alcides Andrade, Executive Administrator at the National Oil, Gas & Biofuels Agency (ANPG), explained that the country has already reached its target of awarding 50 concessions through its annual licensing drive and direct negotiation program and is now pursuing additional licenses to drive production.

Licensing Strategy and Investment

Backed by a six-year licensing strategy and strengthened fiscal policies, the ANPG is steering Angola into a new phase of investment and growth. The regulator has positioned the country as a top African destination for upstream spending, with $70 billion in capital expenditure anticipated over the next five years. This effort includes reforms to incentivize investment in exploration and collaboration with the investment community to progress onshore exploration, with several operators either having drilled wells or planning to drill in the coming year.

Production Goals and Milestones

With a goal to sustain production above one million barrels per day, Angola has seen a wave of project milestones in 2025 as operators move to maximize resources across offshore basins. Specific projects that started production this year include Agogo, Begonia, and CLOV Phase 3, contributing to the country's efforts to maintain and boost its oil output.

Gas Development and Potential

On the gas front, ANPG is advancing the country’s Gas Master Plan to unlock non-associated reserves. The New Gas Consortium is set to bring Angola’s first non-associated gas project – Quiluma and Maboqueiro – online in late-2025, laying the foundation for a diversified energy mix. A new discovery at Block 1/14 further underscores the potential of Angola’s offshore gas resources. The country believes it has more than 38 trillion cubic feet of gas potential, with ongoing studies to evaluate this. Efforts are also focused on monetizing associated gas from currently producing oil blocks by incentivizing operators.

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