Nigeria: Angola Plans More Multi-Year Oil, Gas Licence Rounds

12 November 2024

Angola intends to replicate its maiden multi-year licensing round for oil and gas acreage from 2026, a senior government energy official said, as the country looks to boost production and investment.

The first multi-year auction for 50 onshore and offshore blocks was for 2019-2025, as Angola strives to arrest a steep decline in crude oil production from mature oilfields.

"We have already started to work on a plan for after 2025 and are currently executing our exploration strategy which is the evaluation of different sedimentary basins of the country," a board member at Angola's National Agency of Petroleum, Gas and Biofuels (ANPG), Alcides Andrade, said.

"It is an aggressive approach we believe we need to have," he said, adding it was unclear at this stage how many blocks in total would be up for grabs.

Production in Africa's second largest crude oil producer after Nigeria has stabilised at just over 1.1 million barrels a day (bpd) after reaching a peak of around 2 million bpd in 2008.

Andrade, speaking on the sidelines of an energy conference in Cape Town, said during the first four licensing rounds in the multi-year strategy, 35 concessions have been awarded thus far.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.