As the premier event for the country’s oil and gas sector, AOG takes place on the eve of Angola’s 50 years of independence in 2025, celebrating 50 years of sovereignty and hydrocarbon leadership. Examining how oil and gas investments have shaped the last five decades, the event explores how policy reform, foreign investment and local innovation will drive the next 50 years of development. The event will unpack the country’s $60 billion upstream investment drive, plans for 445,000 barrels per day (bpd) in refining capacity, youth- and women-led innovations and cross-sector infrastructure projects. Minister Azevedo’s insights will support dialogue and deals by outlining governmental strategies for transforming the market.

Under the leadership of Minister Azevedo, Angola has seen rapid project advancement in recent years, with a 2025-2028 project pipeline expected to bolster production even further. Major projects include the first phase of the Cabinda refinery – starting in 2025 with a capacity of 60,000 bpd -; the New Gas Consortium’s non-associated gas project (2026); the Agogo Integrated West Hub Development (2026); and the Kaminho deepwater development (2028). Frontier exploration is expected to kick-off in 2025 at the Etosha-Okavango basin while independents pursue development opportunities in the onshore Kwanza basin. The country is also expected to launch its next licensing round in 2025, offering ten blocks for exploration in the offshore Kwanza and Benguela basins. These developments are expected to accelerate industry growth while attracting new players to the market.

Looking back, regulatory reform has served as the cornerstone of Angola’s 50 years of oil and gas growth, laying the foundation for sustained investment, local partnerships and long-term commitments by international operators. A six-year licensing round launched in 2019 paved the way for 41 concessions to be awarded to a multitude of international and regional companies, while the introduction of marginal field opportunities has created new pathways for independents. The country currently has five marginal fields available, two of which are situated in Block 4 while additional field opportunities lie in Block 14, Block 15 and Block 18. Backed by supportive policies, these fields offer accessibility for smaller E&P firms looking at either expanding their presence or entering the Angolan upstream market. Beyond this, Angola also introduced an Incremental Production Initiative in 2024 to encourage major operators to reinvest in mature assets. ExxonMobil made a discovery as the Likembe-01 well in 2024 – the first under the initiative. The country also offers blocks under its permanent offer program, enabling companies to invest out of the confines of a traditional licensing round.

These reforms are expected to continue enticing investment into the market as Angola ushers in a new era of development. The next 50 years will be determined by upcoming policies, which aim to strengthen domestic value chains and encourage greater local participation across the industry. Notably, Angola is preparing to launch its Gas Master Plan (GMP), aimed at diversifying the industry and creating expanded investment opportunities. The GMP is a 30-year strategy designed to attract investment across the gas value chain, offering a clear policy framework to entice non-associated gas development, enhance fuel security while supporting the creation of domestic gas markets. The country is also eyeing the possibility of extending its multi-year licensing strategy beyond 2026. This creates new opportunities for companies as the country targets frontier development and revitalized onshore production. At AOG 2025, Minister Azevedo’s insights will offer greater clarity on how the government is expected to work with foreign operators, strengthen the business environment while creating a regional petroleum hub in Angola.