Paulino Jerónimo, chairman of ANPG, talks to The Energy Year about the results of Angola’s petroleum concession strategy, the 2026–2030 exploration plan, opportunities in the frontier Benguela and Namibe basins, the development of non-associated natural gas and renewed investor confidence in the country’s oil and gas sector.
ANPG is Angola’s national concessionaire for the oil and gas sector, responsible for regulating, promoting and overseeing petroleum activities.
- Angola’s concession strategy is delivering results. More than 70 concessions have been awarded since 2019, with the 2026–2030 plan focused on new discoveries and production.
- Frontier exploration could help replenish Angola’s reserves. The Benguela and Namibe basins offer significant potential, although higher exploration risks and limited infrastructure remain challenges.
- Natural gas is entering a new development phase. First production from Quiluma is strengthening supply to Angola LNG, while opening opportunities for power generation and industrialisation.
What has Angola’s concession strategy delivered, and what comes next under the 2026–2030 plan?
Our assessment is clearly positive. The General Strategy for the Award of Petroleum Concessions emerged when Angola’s oil sector was facing increasing maturity of producing fields, natural production decline and a more competitive international environment.
We needed a renewed approach capable of stimulating exploration and ensuring the sustainability of the national oil industry.
The strategy introduced an approach based on speed, pragmatism and flexibility, supported by regulatory reforms, more competitive contractual terms and active promotion of investment opportunities.
Since 2019, more than 70 petroleum concessions have been awarded.
We have maintained the confidence of the leading supermajors while creating conditions for them to strengthen their portfolios. Shell has returned, and new international companies have entered as operators and partners.
Exploration has also gained momentum beyond traditional areas such as the Lower Congo Basin. More than 30 wells have been drilled, with discoveries estimated at approximately 2.7 billion barrels of oil and 2.24 trillion cubic feet of gas. These initiatives are helping mitigate natural decline and sustain oil production above 1 million barrels per day.
The 2026–2030 Concession Award Plan continues this strategy.
While the first cycle prioritised restoring investor confidence and revitalising exploration, the next will focus on converting that momentum into more discoveries, new developments and higher production.
We will continue to prioritise frontier exploration, natural gas and a competitive investment environment.
What could exploration in the Benguela and Namibe basins mean for Angola?
The Benguela and Namibe basins hold significant petroleum potential. The interest shown by major international companies is a strong indication of their attractiveness.
However, these are frontier basins with no exploration history or nearby production infrastructure, so they carry higher exploration risks and more complex financial, technological and operational requirements.
ExxonMobil, TotalEnergies, Azule Energy and Sonangol have demonstrated confidence in their geological potential, supported by technical studies and our strategy to expand knowledge of Angola’s sedimentary basins.
Appropriate contractual terms were also established to mitigate the higher risks.
Commercial discoveries could play a decisive role in replenishing reserves, mitigating natural production decline, generating state revenue and attracting further investment.
How will Angola monetise its natural gas resources?
The Natural Gas Master Plan sets out an integrated vision encompassing exploration and production, infrastructure, development of a domestic market and improvements to the legal and regulatory framework.
The objective is to turn gas resources into energy, industrial products, revenue and sustainable economic opportunities.
A decisive milestone was reached on 13 March 2026, when gas supply from the Quiluma field, part of the New Gas Consortium, began, marking Angola’s first production of non-associated natural gas. Current supply is approximately 135 million cubic feet per day, expected to rise to more than 300 million cubic feet per day by the end of 2026.
Gas from Quiluma is processed at the New Gas Consortium’s Soyo plant, which can process approximately 400 million cubic feet of gas and 20,000 barrels of condensate per day, before being supplied to Angola LNG.
At plateau production, the project is expected to supply the equivalent of approximately 2 million tonnes of LNG per year.
This reduces reliance on associated gas and provides a more stable supply for Angola LNG. In the short term, the priority is to maximise existing infrastructure, support electricity generation and serve the first industrial projects. Longer term, we aim to develop demand centres, pipelines, storage and regasification facilities, LNG transport and virtual pipeline solutions.
Our vision extends beyond LNG exports.
Gas can provide feedstock for fertilisers, ammonia, methanol and other petrochemicals and support steel, cement, mining, manufacturing and transport. It can also complement renewable energy and strengthen electricity system stability.
What does Angola’s investment pipeline indicate about investor confidence?
Investment of approximately USD 70 billion over the next five years demonstrates the industry’s positive perception of the Angolan market. This confidence rests largely on the sector’s transformation and the creation of an independent agency responsible for regulation, promotion and oversight.
The National Concessionaire has adopted a closer and more collaborative approach to investors, alongside greater agility in procedures and flexibility in finding solutions tailored to individual projects. Pragmatism has also helped strengthen investor confidence and Angola’s attractiveness for investment.
Between 2017 and 2020, investment in the sector fell by approximately 27%, reflecting factors including oil price volatility and the COVID-19 pandemic. Structural reforms through Presidential Legislative Decrees Nos. 5/18, 6/18 and 7/18, together with greater contractual flexibility, helped reverse this trend. Investment subsequently grew by approximately 87% between 2020 and 2025, reaching more than USD 15 billion in 2025.
Source: theenergyyear.com