Driving investment in oil and gas

Policies developed to welcome investment

ANGOLA: Over $60 million in investments for upcoming projects are set to drive significant development within Angola’s oil and gas sector.

Speaking at CERAWeek in Houston, Alcides Andrade, Executive Administrator of the National Agency for Petroleum, Gas and Biofuels (ANPG), revealed that Angola has secured over $60 billion in commitments for upcoming projects, attracting both established and new operators.

Over the next five years, these investments will drive significant development, and ongoing negotiations with various investors are expected to further bolster Angola’s oil and gas sector. Positioning itself as a key player in the market, Andrade said that the country was committed to providing a welcoming environment for investors.

“The industry is global, and capital will go where it is most welcome. We in Angola are committed to providing the best possible environment for oil and gas investors,” stated Andrade.

He said the ANPG has streamlined its licensing processes, reducing response timelines for investment proposals from years to under 30 days under the strategy. Additionally, the agency is implementing a regulatory framework that aims to increase private sector investments while ensuring high returns for investors.

He highlighted that Angola’s business and operating environment for oil and gas has significantly improved over the past five years, reinforcing its status as a prime location for energy investments.

The government, under President João Lourenço, has introduced transformative policies over the past five years, including visa entry relaxations and improved fiscal terms, to enhance investor confidence.

As a result, Angola has launched four licensing rounds, offering 40 blocks, over the past five years and is on track to commence gas production at its second non-associated gas project in the latter half of 2025.

The country’s incremental production program, designed to optimise mature fields, has maintained average production above 1.1 million barrels per day. Furthermore, Angola has prioritized carbon emission reduction strategies, achieving a 60% reduction in flaring over the past 15 years through cooperation with operators.

Angola’s policy changes have led to other several significant milestones, including the drilling of over 30 wells, particularly in frontier basins like the Namibe Basin, and the introduction of new production assets in marginal fields, strengthening Angola’s production portfolio in both onshore and shallow waters.

PHOTO: Administrator of the National Agency for Petroleum, Gas and Biofuels (ANPG) Reveals Angola’s $60Bn O&G Investment Prospect.

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