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Angola: A Proven Play with Promising Opportunities

Angola represents one of the biggest oil producers in Africa, and yet, the country is only just starting to realize the full potential of its oil and gas resources. A strengthening domestic market, a rich production history, and favorable fiscal terms make this proven play one of the most competitive continent-wide.

2.5 Billion +


11.5 Trillion


$60 Billion +


A Proven Play

With over 2.5 billion barrels of proven oil reserves and 11.5 trillion cubic feet of proven gas, Angola offers attractive opportunities in basins with proven hydrocarbon plays. Angola’s pre-salt and post-salt oil potential has been proven in more than 50 years of production history in the Lower Congo and Kwanza Basins. The positive results of the wells drilled in the Angolan sedimentary basins prove the existence and functionality of the petroleum system in all plays or stratigraphic intervals.

A Long-Term Strategy

Angola offers regular investment opportunities, underpinned by its six-year licensing round launched in 2019. Offering a total of 55 blocks for exploration and with only 26 blocks awarded to date, this approach guarantees regular engagement and investment in upstream oil and gas. 

Over the next five years, an investment pipeline of more than $60 billion is expected, demonstrating the scale of opportunity present in Angola. The country is not only focused on short-term projects but long-term returns, providing investors with the certainty they need to invest.

An Integrated Regional Hub

Angola aims to become a southern African petroleum hub through the development of downstream infrastructure. This includes projects related to storage capacity, regional pipelines, terminals, logistic hubs and related facilities, creating opportunities for players across the entire oil and gas value chain. As demand continues to grow across the region, investing in Angola provides access to new markets, with Angola serving as base for investments.

Competitive Fiscal Terms

Angola offers a flexible and stable legal, contractual and fiscal environment and has been adjusting policies to enhance competitiveness. In 2019, the government established the National Oil, Gas & Biofuels Agency, demonstrating a commitment to transparency and industry engagement. 
In recent years, policy reforms have not only streamlined processes but created new avenues for investment. Additional exploration and production areas have been created, legislation has been introduced to promote marginal field development, the rules and procedures for public tender have been amended while regulation has been created to promote local content development.

Strong Partnership Potential

Angola’s national oil company Sonangol is being transformed into a globally competitive player. Now, the company serves as a strong partner for foreign investors and is committed to working with stakeholders to unlock high returns in the industry. As an established market, Angola also offers a strong suite of local E&P players, service providers and technology experts ready to support projects. 

Download the Angola Investment Report

Energy Invest: Angola 2022 – in the wake of Angola’s anointment as sub-Saharan Africa’s largest oil producer – has officially been launched with a new look and multimedia components, arriving at a critical moment in the country’s burgeoning energy sector. A complete report on investing in the energy sector of Angola, the Angola Investment Report 2022 is the official platform to communicate the direction in which the country and its companies are headed. 


Where to Invest?

Upstream Exploration

Upstream Exploration

With global oil demand projected to grow 10% by 2030, investing in Angolan exploration will unlock new sources of energy. The country continues to offer a wealth of upstream block opportunities, with geological data supporting drilling efforts across both on- and offshore plays.

Downstream Infrastructure

Downstream Infrastructure

Angola is looking at maximizing the value of its oil and gas resources through the development of downstream infrastructure. Hoping to reduce the reliance on imported fuel, Angola stands on the precipice of transforming itself into a petroleum hub. This creates strategic opportunities for technology providers and service companies.

Retail & Distribution

Retail & Distribution

With a growing consumer base and strategic location in southern Africa, Angola offers promising opportunities for businesses looking at expanding their reach in the oil and gas retail sector. The country is on track to become a regional petroleum hub, unlock critical investments in distribution infrastructure.
Low-Carbon Solutions

Low-Carbon Solutions

Angola is spearheading a just transition based on low-carbon fuels. Reliant on oil and gas, the country is inviting financiers and technology providers to bring innovative solutions to decarbonize the industry. As a technology-driven provider, you stand to transform Angola into the hydrocarbon market of tomorrow.
Associated Support Services

Associated Support Services

Investment opportunities in Angola transcend traditional oil and gas activities, with the industry’s growth requiring the development of various sectors of the economy. From education to transportation to public works, water and power generation, the Angolan market offers lucrative avenues for every company.

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