Angola is pushing forward with new oil investment as the country's fiscal environment improves and becomes more attractive to global oil companies. The country is targeting increased exploration drilling, additional deepwater development, and new international entrants to help offset production declines from mature fields. The National Oil, Gas & Biofuels Agency (ANPG) signed a series of agreements covering new acreage and additional investment across Angola's upstream sector during the Angola Oil & Gas 2026 conference in Luanda. The agreements were among 11 deals announced during the event and included deepwater Blocks 19, 34 and 35; Blocks 8 and 22; Block 33/24; Blocks 17/25 and 32/21; and further investment in Block 32, with additional agreements aimed at supporting incremental production from Blocks 15 and 31 and financing Etu Energias' expansion at Block 14.
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