Angola’s oil and gas industry is experiencing a surge in global interest as international energy companies seek to capitalize on the country’s vast hydrocarbon 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 poised to further expand Angola’s oil and gas industry.
The ANPG’s strategy is built on three core principles: agility, flexibility, and pragmatism, aimed at enhancing the sector’s competitiveness.
Andrade highlighted 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 to boost investor confidence, including visa entry relaxations and improved fiscal terms. 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 an average production above 1.1 million barrels per day
Additionally, Angola has prioritized carbon emission reductions, achieving a 60% reduction in flaring over the past 15 years through industry collaboration.
The country is also set to begin gas production at its second non-associated gas project in late 2025, further strengthening its role in the global energy mix.
As hydrocarbons remain critical to global energy stability, Angola continues to solidify its position as a leading supplier, Andrade concluded.