By Ayomide Otitoju
Angola is on track to award 60 oil and gas concessions by the end of 2025, building on the success of its multi-year licensing round launched in 2019. The country has already surpassed its initial target of 50 concessions, according to Alcides Andrade, Executive Administrator at the National Oil, Gas & Biofuels Agency (ANPG), who spoke at African Energy Week: Invest in African Energies 2025 in Cape Town.
“Since 2024, we have awarded more than 20 blocks. This has amounted to more than 50 blocks. We see the potential to award up to 60 concessions by the end of this year. This has been a result of licensing rounds and direct negotiation,” Andrade said.
Guided by a six-year licensing strategy and strengthened fiscal incentives, Angola is positioning itself as a top African destination for upstream investment. Andrade projected $70 billion in capital expenditure over the next five years, supported by new reforms to encourage exploration both offshore and onshore.
“We are working with the investment community to progress exploration onshore. A few operators have already drilled wells or are preparing to drill next year. Over the next five years, Angola expects to see up to $70 billion invested,” he added.
To sustain production above one million barrels per day, Angola has achieved several project milestones this year, including the start of production at Agogo, Begonia, and CLOV Phase 3 developments.
On the gas front, ANPG is advancing its Gas Master Plan to harness the country’s estimated 38 trillion cubic feet of gas potential. The New Gas Consortium is expected to deliver first production from the Quiluma and Maboqueiro non-associated gas project by late 2025—Angola’s first such development. A new discovery in Block 1/14 further highlights the country’s offshore gas prospects.
“We are making significant progress on our first non-associated gas project, which is set to deliver first gas at the end of the year. At the same time, we are studying ways to incentivize operators to monetize associated gas from producing oil blocks,” Andrade noted.
