Angola’s Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo announced that the country’s next licensing round will be opened by Q4, 2025, offering acreage in the Kwanza and Benguela basins. Speaking during a Ministerial Fireside Chat sponsored by Vitol at the Angola Oil&Gas Conference and Exhibition 2025, Minister Azevedo affirmed that the round falls part of efforts to sustain oil production above one million barrels per day (bpd) in 2026 and beyond.
The upcoming licensing round represents the final bid round under the country’s multi-year licensing strategy – launched in 2019 with a goal to award 50 Angolan concessions. Offering blocks in proven hydrocarbon basins, the round is expected to fuel exploration as the country strives to address production decline.
“We have a goal to achieve one million bpd in the next year. Even though we have a lot of activities and developments in certain areas, we are a country with matured wells in our fields. Our solution is to look for new deposits. Offshore and onshore, we have seen a growth in exploration across new blocks. The multi-year strategy ends this year, with one more bid round expected. The 2025 licensing round will be launched by the last quarter of this year,” stated Minister Azevedo.
The upcoming licensing round coincides with an ambitious strategy undertaken by the government to attract investment in both active and emerging basins. Complementing the licensing strategy is Angola’s permanent offer regime and marginal field prospects, both of which entice investment in undeveloped or smaller-scale assets.
According to Minister Azevedo, “We have legislation for the marginal fields. Another program that is going well is the internal basins. We still have a flexible strategy, where investors can [seize blocks].”
These reforms have not only attracted new investment in the sector but supported reinvestments by active players. According to Minister Azevedo, “When we decided to create legislative change, we invited the private sector to be part of this. This demonstrates our cooperative spirit, so that we can create win-win mechanisms. The process of reform is not finished; we continue to work on improving the legislation, implementation and regulation.”
Beyond international partnerships, Angola strives to enhance local participation in the oil and gas sector. Minister Azevedo highlighted the role of local players in the industry, underscoring the need to position Angolan entrepreneurs and businesses at the forefront of sectoral growth.
“We want to see more Angolans participating in the industry. We also want to see national Angolan companies to be more active in our economic growth. We want to bring legislation that supports this.”
Distributed by APO Group on behalf of Energy Capital&Power.