“For the next five years, we will invest $10 billion in Angola across all our projects,” Pouyanné said.

The investment commitment comes as Angola seeks to sustain oil production through new discoveries, mature-field investment and frontier exploration. Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo said recent exploration successes demonstrate the remaining potential of the country’s basins.

“Some people thought that oil was gone, but it’s still here and will continue to be here,” Azevedo stated. He highlighted a discovery by Sonangol in Block 24 this year and a new ExxonMobil discovery at the Vicango East-01 well at Block 15, while reiterating expectations for first production from the TotalEnergies-led Kaminho development in Block 20/11 in 2028.

TotalEnergies currently produces approximately 450,000 barrels per day (bpd) in Angola, according to Pouyanné. The company also holds a 10% interest in Block 0, where Chevron recently announced another discovery at the 105-4X exploration well.

Block 0 underpins Chevron’s broader Angolan strategy of unlocking additional production from Angola’s mature acreage. Vice President of Exploration Kevin McLachlan said this latest discovery exceeded pre-drill expectations, encountering approximately 2,000 feet of gross hydrocarbon column and more than 300 feet of net pay.

“We have work to do to determine the best path for development, but it reminds us all that mature basins still have good opportunities ahead of them,” McLachlan said.

The company is also progressing exploration in Blocks 49 and 50, where 3D seismic acquisition is advancing ahead of a potential drilling decision. “We look forward to the fruition of this coming in the months ahead, with the decision to drill coming soon after that,” he said.

Meanwhile, Azule Energy – an Angolan bp-Eni joint venture – is producing more than 200,000 bpd and advancing another wave of projects. Gordon Birrell, EVP Upstream at bp, highlighted the start-up of the Agogo FPSO ahead of schedule in 2026, early delivery of the New Gas Consortium (NGC) development and the June 2026 FID on Greater PAJ, which will integrate five fields across two blocks through a single development and FPSO.

“Azule has continued to discover new opportunities, such as the Algaita discovery in Block 15/06,” he said, highlighting that “Angola’s future still holds enormous promise. We have discussed how we can grow production, keep this business growing, and how we can continue creating long-term value for Angola’s people.”

Guido Brusco, COO Natural Resources at Eni said Azule has become one of Angola’s largest independent operators since its creation in 2022, with the NGC project forming a central part of its next production phase.

“Our commitment to Angola finds its best expression with Azule Energy through our partnership with bp,” Brusco said. He added that “we want to confirm our commitment to Angola, focusing on a more resilient and diversified sector with a lot of value for future generations.”

TotalEnergies is also preparing its next exploration cycle. Pouyanné committed to commercializing future discoveries following the extension of Block 32. The company will also introduce a new artificial intelligence (AI) initiative for geoscience, with Angola set to become its first deployment market.

“We will announce a very large AI initiative in geoscience and we will first apply this in Angola,” he said.

With billions of dollars in new investment, fresh discoveries and drilling decisions advancing across mature and frontier acreage, Angola’s leading international operators used AOG 2026 to signal that exploration and production growth remain firmly at the center of their long-term strategies.