Angola’s oil and gas industry is experiencing renewed global interest as international energy companies seek to tap into the country’s vast reserves.
With rising global energy demand, Angola is positioning itself as a key player, according to Alcides Andrade, Executive Administrator of the National Agency for Petroleum, Gas, and Biofuels (ANPG).
Speaking at CERAWeek in Houston, Andrade announced that Angola has secured over $60 billion in commitments for upcoming projects, attracting both established and new investors.
Over the next five years, these investments are expected to drive significant sector growth, with ongoing negotiations set to further boost Angola’s oil and gas industry.
The ANPG’s strategy is built on three key pillars: agility, flexibility, and pragmatism to enhance competitiveness.
Andrade emphasized Angola’s commitment to streamlining investment processes, reducing licensing response times from years to under 30 days, and implementing policies that encourage private sector participation while ensuring strong investor returns.
Under President João Lourenço, Angola has introduced pro-business policies, including visa entry relaxations and improved fiscal terms, to enhance investor confidence. Over the past five years, the country has:
- Launched four licensing rounds, offering 40 exploration blocks
- Drilled over 30 wells, particularly in frontier basins like Namibe
- Brought new production assets online in marginal fields
- Maintained average production above 1.1 million barrels per day
Additionally, Angola has prioritized carbon emission reduction, achieving a 60% reduction in flaring over the past 15 years through industry collaboration.
Angola is set to begin gas production at its second non-associated gas project in late 2025, further solidifying its role in the global energy mix.
As hydrocarbons continue to play a crucial role in global energy stability, Angola remains committed to strengthening its position as a leading supplier, Andrade concluded.
