TotalEnergies Extends Angola Block 32 Production Agreement to 2043 Under New Investment Framework
TotalEnergies has secured a long-term extension to continue developing Angola’s Block 32 offshore oil assets through 2043, adding 17 years of additional production and investment activity in one of the country’s key deepwater regions.
The agreement was confirmed by Angola’s National Agency for Oil, Gas, and Biofuels (ANPG) following the signing of a framework deal in Luanda after negotiations that continued through 2025.
Expansion Across Deepwater Development Zones
The extension covers six offshore development areas in the Lower Congo Basin at water depths ranging between 1,500 and 3,000 meters.
These include Cominhos, Alho, Cola, Manjericão, Colorau, and the Kaombo development, one of the block’s major production hubs.
Block 32, which has been producing since 2018, spans approximately 5,340 square kilometres and remains a cornerstone of Angola’s ultra-deepwater oil output.
TotalEnergies estimates that the block holds around 658 million barrels of recoverable reserves, with current production capacity of about 230,000 barrels per day and a significant portion of remaining resources still undeveloped.
Investment Stability and Production Strategy
The agreement is intended to maintain long-term investment in the block while improving fiscal predictability and supporting future production growth.
It also aligns with Angola’s broader strategy to encourage continued development in mature offshore assets.
Both parties have agreed to explore Angola’s incremental production regime, introduced in late 2024, which offers improved fiscal terms designed to attract additional upstream investment.
The framework includes reduced royalty rates, adjusted government profit participation, and enhanced cost recovery mechanisms for operators.
Supporting Exploration and Future Output
As part of ongoing development planning, TotalEnergies commissioned Shearwater Geoservices in 2024 to conduct advanced seismic surveys across the Louro and Mostarda fields.
The data is expected to improve subsurface imaging and guide future investment decisions within Block 32.
Angola’s incremental production regime has already contributed to renewed exploration interest in the country’s offshore sector, with other operators reporting new discoveries under the revised fiscal framework. The policy is widely viewed as part of Angola’s effort to sustain output from its mature deepwater basins while attracting continued foreign investment.
