Angola is preparing to launch additional multi-year oil and gas licensing rounds starting in 2026 as part of its strategy to increase production and attract fresh investments. The announcement was made on Thursday by Alcides Andrade, a board member at the National Agency of Petroleum, Gas, and Biofuels (ANPG).
The new rounds will follow the country’s current 2019-2025 bidding program, which has already offered 50 onshore and offshore blocks for exploration. “We have started planning for post-2025 activities and are executing our exploration strategy, focusing on evaluating Angola’s various sedimentary basins,” Andrade said.
Once a major oil producer with peak production of 2 million barrels per day (bpd) in 2008, Angola’s output has declined to around 1.1 million bpd. This drop is attributed to underinvestment in offshore projects, where higher development costs have deterred international oil companies.
To rejuvenate its oil sector, Angola exited the OPEC cartel in January 2024 after disagreements over production quotas. Under an OPEC+ agreement, Angola and Nigeria were assigned reduced production quotas in June 2023 due to prolonged underperformance. Angola’s departure underscores its focus on boosting output without external restrictions.
The move aligns with growing interest from global energy firms. Earlier this week, Chevron announced its entry into offshore exploration blocks in Angola and Nigeria, highlighting the West African region’s untapped hydrocarbon potential. “West Africa is a hydrocarbon-rich region and remains relatively under-explored compared to other parts of the world,” said Liz Schwarze, Chevron’s Global Exploration Vice President, in an interview.
Angola’s efforts to revitalize its oil sector signal a renewed commitment to positioning itself as a key player in the global energy market.
