Connect with us
Anglostratits

Business

Transforming Angola’s Oil and Gas (O&G) Sector: National Oil, Gas & Biofuels Agency (ANPG’s) Six-Year Licensing Round Attracts Global Investment

Published

2 years ago

on

Biofuels

The ANPG is spearheading Angola’s oil and gas revitalization with a robust six-year licensing round, fostering international investment, operational expansion and regulatory enhancements to secure the nation’s energy future

LUANDA, Angola, June 13, 2024/APO Group/ — 

The six-year licensing round, launched by Angola’s national concessionaire – the National Oil, Gas & Biofuels Agency (ANPG) – has been a cornerstone in the country’s strategy to attract and secure substantial investments in its oil and gas sector. With up to 55 blocks on offer in total, the licensing round is designed to offer regular and transparent opportunities for IOCs and competitive Angolan operators to explore and develop the country’s hydrocarbon potential.

Representing the voice of the African energy sector, the African Energy Chamber (AEC) – led by Executive Chairman NJ Ayuk – met with ANPG CEO and Chairman Paulino Jerónimo in Launda as part of a working visit to the country this week. The parties discussed measures in place to enhance the country’s enabling environment and the profound impact of the ongoing multi-year licensing round. The ANPG has been making great strides towards attracting foreign investment in exploration and production in line with national objectives to stimulate oil production and drive long-term economic growth. The AEC commends the efforts by the regulator and believes the foundations have been laid for industry-wide expansion.

Recent developments in the industry underscore the impact of license reform and promotion. In January 2024, the ANPG concluded the country’s 2023 licensing round, whereby 12 blocks were available in the Lower Congo and Kwanza basins. The regulator announced that 53 bids were submitted, demonstrating the scale of interest in the country’s acreage. The tender invited both national and international entities to participate, emphasizing criteria for operator status and the formation of contractor groups for the onshore blocks. Looking ahead, the ANPG is preparing for the next round of the licensing initiative, which is expected to further stimulate investments and partnerships, offering more opportunities for stakeholders to capitalize on Angola’s proven reserves. Featuring 10 blocks in the Kwanza and Benguela basins, the round will be launched in 2025.

The regulator’s comprehensive efforts are not only enhancing the country’s energy security but also attracting significant investment opportunities

Meanwhile, the ANPG is actively promoting exploration and production in the frontier Namibe Basin, confident in its identified leads and matured prospects across blocks and free areas. Energy major ExxonMobil plans to invest $200 million into exploring Blocks 30, 44 and 45 in the Namibe Basin, where the company, in partnership with NOC Sonangol, plans to drill an offshore frontier exploration well by late 2024.

Additionally, the ANPG’s extensive operational scope includes overseeing more than 40 operational concessions across Angola, with 16 currently in production across various offshore and onshore categories. These include three onshore, five in shallow water, six in deep water, and two in ultra-deep water. In addition to the production activities, there are numerous concessions under exploration – including 14 onshore blocks, one in shallow water, 11 in deep water and one in ultra-deep water. Further development efforts are ongoing for four deep-water concessions. The pipeline of future opportunities includes seven upcoming concessions. Additionally, there are concessions currently under negotiation, which consist of four onshore blocks located in the Lower Congo and Kwanza Basins, and three deep-water blocks (24, 49 and 50). This extensive array of operational, exploratory and developmental concessions highlights the significant potential and active investment landscape within Angola’s oil and gas sector.

Investing in Angola’s energy sector presents a strategic opportunity for several compelling reasons. The nation boasts a track record of successful exploration and production in both deepwater and onshore regions. Angola is the second-largest oil producer in sub-Saharan Africa and is recognized as one of the top five most attractive countries globally for oil and gas investments, with a success rate of over 30% in its oil and gas opportunities. The presence of major IOCs such as Chevron, TotalEnergies, Azule Energy and ExxonMobil  -alongside competitive operators such as Afentra and Etu Energias – highlights the diversity of its investor base. Furthermore, the potential for partnerships with other IOCs and proficient Angolan operators enables the leveraging of local expertise and resources, fostering mutual benefit.

Several legislative reforms have been enacted to bolster Angola’s investment climate. These reforms encompass a range of initiatives, including Presidential Legislative Decrees 5/18, 6/18, and 7/18, which address exploration, development and production, including marginal fields and natural gas. Additionally, Presidential Decree 91/18 establishes rules and procedures for abandonment activities, while Presidential Decree 49/19 designates ANPG as the regulator of oil and gas activities. Furthermore, Presidential Decree 271/20 promotes local content development, and Presidential Decree 249/21 focuses on permanent offers. Finally, Presidential Decree 52/19 outlines the general strategy for awarding petroleum concessions from 2019 to 2025.

“Under the leadership of Jerónimo, the ANPG’s proactive approach in revitalizing Angola’s oil and gas sector is transforming the landscape of exploration and production, both onshore and offshore. The regulator’s comprehensive efforts are not only enhancing the country’s energy security but also attracting significant investment opportunities. This revitalization is crucial for Angola’s economic growth, creating jobs, and ensuring that the nation remains a competitive player in the global energy market,” stated Ayuk.

Distributed by APO Group on behalf of African Energy Chamber.

Related Topics:
Continue Reading
Advertisement

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

Published

2 days ago

on

February 6, 2026

By

Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

Continue Reading

Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

Published

2 days ago

on

February 6, 2026

By

CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

2 days ago

on

February 6, 2026

By

ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Continue Reading

Trending