Luanda, Sept. 9, 2026 (Lusa) - The Angolan oil and gas concessionaire announced on Wednesday that investments in excess of $70 billion (€60.2 billion) are planned for exploration, production, natural gas and energy infrastructure over the next five years.
According to the chair of the National Agency for Oil, Gas and Biofuels (ANPG), the national concessionaire, oil and gas «remain strategic assets for the Angolan economy».
Speaking at the seventh Angola Oil & Gas Conference, which began today in Luanda, Paulino Jerónimo stated that investments totalling over $70 billion are projected for the next five years, covering exploration, production, natural gas and energy infrastructure.
Furthermore, he assured that the ANPG will continue to refine its contractual models to ensure greater stability, fiscal predictability and institutional efficiency.
«We will continue to perfect our contractual models, particularly where the geological, economic or operational characteristics of the projects so require. Incentives must be designed to deliver results: more exploration, more drilling, more discoveries (…) and more production», he said.
He emphasised that the ANPG's objective «is not merely to award blocks», but, he argued, to transform blocks into investment, investment into discoveries, and discoveries into production.
Jerónimo said that Angola has taken important steps towards revitalising the oil sector and indicated that the hydrocarbons strategy up to 2050 is currently awaiting approval and that the Concession Allocation Plan will be implemented with greater «speed, transparency and efficiency».
He also highlighted the new discoveries in offshore blocks and the growth of the natural gas value chain through Angola LNG (Liquefied Natural Gas).
According to him, while discussing the initiatives undertaken by the agency established seven years ago and the context of the country's oil production, Angola's offshore sector represents a new frontier of opportunities.
For his part, the chair of Angola's Petroleum Derivatives Regulatory Institute (IRDP) spoke on the occasion about the future of the ‘midstream' sector (transport and storage) in the Angolan oil industry.
According to Luís Fernandes, the sector's future must be based on a «clear vision», namely «ensuring safe, regular and sustainable access to quality products, at fair prices and under transparent market conditions».
He argued that, in order to fulfil these conditions, energy security is the «first fundamental pillar» and that Angola needs to consolidate a system capable of withstanding external shocks, logistical disruptions and fluctuations in international markets.
In addition, he also listed value creation, competitiveness, attracting investment, consumer protection and product quality as other essential pillars.
«Investing in Angola's Future» is the motto of the Angola Oil & Gas 2026 international conference and exhibition, which brings together operators, regulators, global investors and service companies in the Angolan capital.
Financing, gas, refining, local content, artificial intelligence, production and deep-water exploration are among the topics under discussion at this event, which runs until Thursday at the Talatona Convention Centre in Luanda.
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