Angola’s National Oil, Gas and Biofuels Agency (ANPG) Brings Angola’s Next Upstream Investment Cycle to Angola Oil & Gas (AOG) 2026
Angola’s National Oil, Gas and Biofuels Agency (ANPG) will lead a high-level delegation to the Angola Oil & Gas (AOG) 2026 Conference and Exhibition as the country moves to translate its long-term upstream strategy into exploration, development, and production growth.
The delegation will feature senior representatives including Executive Administrators Alcides Andrade, Artur Custódio, Nicola Mvuayi, and Ana Miala, alongside Director of Exploration Lúmen Sebastião and Local Content Coordinator Maura Nunes. ANPG Chairman Paulino Jerónimo will lead the team, providing investors with direct access to Angola’s regulator to discuss the upcoming Angola upstream investment cycle as the country promotes opportunities across mature and frontier provinces.
A Dual Strategy for Growth
The ANPG’s participation comes at a pivotal moment for Angola’s upstream sector. With production at around 1.03 million barrels per day (bpd) in 2026, Angola is pursuing a dual-track strategy: maximizing recovery from mature producing assets while accelerating exploration across underexplored basins that could underpin the country’s next generation of projects.
Central to this push is Angola’s Hydrocarbon Strategy 2025–2050, which establishes the upstream vision, pillars, and targets for the next 25 years. Built around six pillars, the strategy aims to make the Angola upstream investment sector more competitive and attractive while promoting technological innovation and greater development of the country’s natural resources.
In the near term, the strategy targets production above one million bpd through 2030, before increasing output to 1.2 million bpd during 2031–2040.
Revitalizing Mature Fields and Unlocking Discoveries
Mature assets will form a key bridge to this growth. Angola is targeting field revitalization, well re-entry, new drilling, and improved recovery rates, supported by measures including the 2024 Incremental Production Decree. Investment is already advancing at producing assets such as Block 32 and Blocks 3/05 and 3/05A, highlighting the remaining potential within established concessions.
At the same time, ANPG is creating opportunities to shorten development timelines and commercialize smaller discoveries through infrastructure sharing and subsea tiebacks. The Greater PAJ development, which reached a Final Investment Decision (FID) in June 2026 and combines resources from Blocks 31 and 31/21 through shared infrastructure, demonstrates how cross-block development can unlock resources more efficiently and attract further Angola upstream investment.
Exploring the Frontier Provinces
Beyond mature acreage, Angola’s longer-term production outlook will increasingly depend on frontier exploration. The Hydrocarbon Strategy targets approximately 12.7 billion barrels of oil initially in place and five trillion cubic feet of gas in discovered or prospective resources through 2030, rising to approximately 20 billion barrels and 13 trillion cubic feet during 2031–2040.
Angola plans to expand 3D seismic coverage and intensify exploration across the Kwanza, Namibe, and Benguela Basins, alongside deeper Cretaceous and pre-salt opportunities in the Lower Congo Basin. Companies interested in exploring these vast regions are prime targets for this new strategic push.
Momentum is already building. TotalEnergies and ExxonMobil secured four Namibe and Benguela blocks in 2026, Woodside Energy is pursuing studies across Blocks 25, 26, and 43, while Shell has partnered with Sonangol on Block 33. ANPG’s Permanent Offer Regime provides an additional route into the market, enabling investment in unawarded acreage, free areas within existing concessions, and concessions held by the national concessionaire.
ANPG’s participation at AOG 2026 will therefore put both sides of Angola’s upstream proposition in focus: near-term barrels from established producing areas and longer-term growth from frontier exploration. As Angola moves from managing decline toward rebuilding production, AOG 2026 provides a platform for ANPG to connect available acreage, regulatory reforms, and project opportunities with the capital and technical expertise needed to deliver the country’s next Angola upstream investment cycle.
