Angola plans to accelerate the awarding of oil and gas exploration concessions from 2027 as part of a new 25-year hydrocarbon strategy aimed at attracting investment, expanding exploration and increasing production.
The strategy will introduce significant changes to the country's licensing framework, including faster concession approvals and the opening of more than 100 exploration blocks, most of them onshore.
Speaking on the sidelines of an energy conference in Cape Town, Alcides Andrade, a board member of Angola's National Agency for Petroleum, Gas and Biofuels (ANPG), said the country intends to move away from multi-year oil and gas auction rounds towards a more flexible system for awarding concessions.
The new approach is expected to take effect once the strategy is approved later this year.
Faster Approvals to Attract Investors
Under the proposed reforms, Angola aims to reduce the time required to award exploration concessions from the current six months to approximately three months.
The government hopes the shorter approval process will make the country more attractive to international energy companies seeking new exploration opportunities.
Angola has already introduced regulatory reforms that have encouraged major oil companies, including TotalEnergies and Eni, to commit billions of dollars to projects across the region.
The new strategy seeks to build on this momentum by making exploration opportunities more accessible and improving the regulatory environment for investors.
Flexible Terms for Different Exploration Projects
Rather than applying identical conditions to every project, Angola plans to adopt a risk-based approach that reflects the characteristics of individual exploration blocks.
The framework would distinguish between marginal or mature oil fields and newer exploration opportunities, as well as between onshore and deepwater projects.
This differentiated system is intended to account for varying investment requirements, geological risks and potential returns across the country's oil and gas sector.
According to Andrade, increasing the number of exploration wells drilled could help Angola strengthen its production capacity over the longer term.
Angola Seeks to Reverse Production Challenges
Angola currently produces approximately 1 million barrels of oil per day and is seeking to expand output through increased exploration and investment.
As one of sub-Saharan Africa's largest oil producers, alongside Nigeria, the country remains heavily reliant on its hydrocarbon industry for export earnings and government revenue.
However, sustaining production requires continued investment in exploration and the development of new reserves, particularly as output from mature fields can decline over time.
By accelerating concession awards and opening additional exploration blocks, Angola hopes to encourage companies to identify new reserves and support the long-term sustainability of its petroleum industry.
The Bigger Picture
Angola's proposed reforms reflect a broader effort by African oil-producing countries to attract investment, unlock untapped reserves and maintain production amid changing global energy dynamics.
The country's shift towards faster, risk-based concessions could improve its competitiveness, but the long-term impact will depend on investor participation, exploration results and the commercial viability of new projects.
For Angola, the central challenge is to turn regulatory changes into sustained investment and production growth while ensuring that its petroleum resources continue to support the wider economy.
Source: Reuters
Reporting: Wendell Roelf
Editing: Thomas Derpinghaus
