Luanda — Angola expects more than 70 billion US dollar to be invested in its oil, gas, and energy infrastructure sectors over the next five years, Artur Custodio, executive director of the National Oil, Gas and Biofuels Agency (ANPG) said on Wednesday.

Speaking at the Angola Oil & Gas conference in Luanda, the ANPG director said fossil fuels remain critical to the southern African nation's economy despite tightening global capital and increased competition among oil-producing jurisdictions.

"Capital in this segment has become more selective," Custodio said, noting that investors are increasingly prioritizing fiscal predictability, contractual stability, and faster project execution timelines.

Custodio said the ANPG is refining its contractual frameworks to stimulate exploration, drilling, and production. He added that the government is evaluating a long-term hydrocarbon strategy running through 2050, aimed at streamlining concession grants to attract foreign backing.

The 7th edition of the Angola Oil and Gas International Conference and Exhibition lasts two days and includes the participation of experts and companies from the sector, who are discussing topics such as oil and gas exploration and production, energy transition, and sustainability.