Hydrocarbon Revenue to Support Mineral Expansion

With plans to maintain oil production above one million barrels per day (bpd) beyond 2027, Angola is poised to see an increase in revenue from the oil and gas sector as new projects come online. In 2024, oil and gas exports reached $35.4 billion, with further growth anticipated as projects like the Agogo Integrated West Hub Development (late 2025); New Gas Consortium (early 2026); and Kaminho Deepwater Development (2028) progress.

This anticipated export and revenue growth presents a significant opportunity for the government to diversify the economy through investments in sectors such as mining. Rich in a variety of minerals – including diamonds, critical minerals and iron ore – Angola has set a goal to become a leading global exporter of critical minerals within the next 10-15 years. The country already produces 8% of the world’s diamonds, achieving a record 14 million carats in 2024. In 2025, diamond revenue is expected to reach $2.1 billion. However, approximately 60% of the country’s mineral territory remains underexplored, reflecting a need for greater investment in mineral exploration and production. By redirecting capital toward the mining sector and the state mining corporation Endiama, which aims to increase diamond production to 17.5 million carats by 2027, Angola can support mineral expansion and economic diversification.

A Focus on Logistics

As Angola strives to increase its oil and gas output, attention is shifting to the country’s logistics and freight industries. Crude oil currently accounts for 90% of the country’s exports, while diamonds represent the country’s second-largest export commodity, averaging $5 billion annually. As energy and mineral production grow, so will the need for modernized export and distribution infrastructure. Several key projects are already underway to strengthen storage, export and regional distribution capacity.

The Barra do Dande Ocean Terminal, launched in 2025, and an integrated terminal and logistics hub under development in Soyo (set to begin operations in 2026) are just a few of the major infrastructure projects underway. The Kwanza Terminal and Pipeline Routes Project, with a production capacity of 25,000 bpd and one million barrels of storage capacity, is expected to start operations in 2029, bolstering Angola’s trade capacity. Additionally, the Lobito Corridor will provide an efficient export route to international markets for mines in Angola, the DRC and Zambia. This 1,300-km railway addresses fundamental infrastructure challenges faced by Angola’s mineral sector and is slated to begin in 2026. Meanwhile, the Port of Lobito mineral terminal began operations in July 2024, further strengthening mineral trade in Angola.

Angola Oil & Gas: Driving Cross-Sector Investment

The integration of Angola's oil and gas industry with its growing mineral sector holds significant potential for economic diversification and growth. By leveraging shared infrastructure, fostering cross-sector investments and embracing technological advancements, Angola is well-positioned to enhance its standing in the global resource market. The upcoming Angola Oil & Gas (AOG) 2025 conference will serve as a crucial platform to discuss these integrations, forge new partnerships and chart the future of Angola's energy and mineral industries. Returning for its sixth edition from September 3-4 in Luanda, the event aims to foster broader economic development by facilitating investment, deal-making and discussions on the future of Angola’s oil, gas and mining industries.

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].