Hanson pointed to Angola’s established transaction history, investment environment and pipeline of onshore and offshore opportunities as supporting further dealmaking.

“There has already been a rich history of transactions in Angola,” he said. “If you look at the momentum around this conference, the participants and welcoming environment for oil and gas, momentum will continue.”

Hanson expects Angola’s investor base to expand beyond the global majors and national oil companies (NOC) already active in the market.

“I believe that we will continue to see an emergence of not only participation by global majors and NOCs, but from an emerging class of independents and national champions – as well as many international players investing both onshore and offshore in Angola,” he said.

The outlook comes as the geography of global oil and gas M&A undergoes a significant shift. According to Hanson, approximately 70% of deal volume has historically been concentrated in the US and 30% across the rest of the world. During the first half of 2026, that balance shifted to approximately 50:50 and has remained at that level into September.

“What we are seeing is a stronger emergence of non-US global opportunity,” he said, adding that the balance could move toward approximately 60:40 as international markets capture a larger share of transactions.

Global M&A activity itself has also recovered after disruption earlier this year. Hanson said January and February recorded more activity than any quarter in 2025 before geopolitical tensions and commodity-price volatility stalled transactions. Activity began recovering in June, with June through August representing a strong period for M&A.

The changing market is also opening opportunities for smaller independents. Hanson said these companies have “either formed partnerships with private equity, family offices or even smaller publicly traded market cap companies and are finding ability in the current economic market to finance opportunities and participate meaningfully in projects.”

For Angola, attracting this broader pool of capital could support efforts to sustain upstream investment amid continued exposure to commodity-market volatility. The International Monetary Fund projects the country will produce approximately 1.05 million barrels per day in 2026, while oil and gas exports are expected to represent 22.4% of GDP and oil-related revenues 7.6% of GDP.

“I am bullish about M&A and dealmaking,” Hanson said, adding that there is “a real momentum and desire to invest, and attach dollars globally to hydrocarbons.”