The development is just one of a slate of deals signed in recent months as operators expand their presence across the county’s upstream sector. Such deals are backed by supportive policies that aim to incentivize greater investment upstream. The Angola Oil & Gas (AOG) conference – returning for its sixth edition from September 3-4 in Luanda – will not only showcase the country’s recent regulatory milestones but connect operators and investors with Angolan blocks. Presentations and panels will outline Angola’s block opportunities while networking opportunities foster engagement among industry players.

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact [email protected].

Gas Master Plan

To facilitate greater investment across the natural gas value chain, Angola is preparing to launch its Gas Master Plan in the coming months. The policy offers a comprehensive strategy for developing, utilizing and monetizing Angola’s gas resources over a period of 30 years, aligning with national goals to increase the share of gas to 25% of the energy matrix. The Gas Master Plan aims to create a more competitive and attractive investment climate in Angola. 

The government launched a public consultation for the Gas Master Plan in 2024, inviting members of the public with the opportunity to offer their comments, criticisms and suggestions. The plan forms part of Angola’s broader National Development Plan (2013-2027), which seeks to position gas as a catalyst for economic growth.

Incremental Production Initiative

Angola launched Presidential Decree 8/24 – dubbed the Incremental Production Initiative – in November 2024, offering a special legal and tax framework which promotes additional investments in offshore mature blocks and offshore developed areas. The policy supports goals of maintaining production above one million barrels per day and is poised to incentivize fresh investment in producing blocks.

Tax incentives include a reduction in the Petroleum Production Tax from 20% to 15% and a reduction in the Petroleum Income Tax from 65.75% to 55.75%. Additionally, Production Sharing Agreements will benefit from a reduction in the Petroleum Income Tax from 50% to 25% which the national concessionaire’s profit-oil share has been reduced to 25%.

The initiative has already shown positive results. In 2024, energy major ExxonMobil made an oil discovery at the Likember-01 well in Block 15. Representing the first well drilled under the Incremental Production Initiative, the discovery showed the potential for enhanced oil recovery across Angola’s biggest producing blocks.

Marginal Field Opportunities

Angola introduced five marginal fields for investment in 2024. Situated in active blocks, the marginal fields are well-suited for smaller firms seeking near-term production. Marginal fields on offer include the Kiame, 4_24 and Kiabo prospects, situated in Block 4; the Malange, Lucapa and Gabela prospects, situated in Block 14; and the Xikomba, Mbulumbumba, Tchihumba and Vicango prospects, situated in Block 15.

The fields feature competitive fiscal terms, including advantageous royalty, tax and depreciation regimes. Previously-introduced tax improvements further bolster the competitiveness of the marginal fields, incentivizing investment and broader participation. Tax reductions include the Headline Tax Rates reduced from 20%-10%; the Petroleum Production Tax reduced from 20% to 10% and the Petroleum Income Tax reduced from 50% to 25%.