Angola will open its next oil and gas licensing round in the fourth quarter of 2025, offering acreage in the Kwanza and Benguela basins, Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo has announced.
Speaking at the Angola Oil & Gas Conference and Exhibition 2025 in Luanda, during a Ministerial Fireside Chat sponsored by Vitol, Azevedo said the bid round forms part of efforts to sustain national crude oil production above one million barrels per day (bpd) in 2026 and beyond.
The round will be the last under Angola’s multi-year licensing strategy, launched in 2019 to award 50 concessions. By targeting proven hydrocarbon basins, the government hopes to boost exploration and counter production decline in its mature fields.
“We have a goal to achieve one million bpd in the next year. Even though we have many activities and developments, our solution is to look for new deposits,” Azevedo said, adding that exploration has increased across both offshore and onshore blocks.
The government is also advancing complementary reforms, including a permanent offer regime and incentives for marginal fields, aimed at attracting investors to smaller and undeveloped assets. According to Azevedo, ongoing legislative changes are being developed with private sector input to create “win-win mechanisms” and enhance investor confidence.
Alongside international partnerships, Angola is pushing to strengthen local participation in the oil and gas industry. “We want to see more Angolans participating in the industry, and national companies playing a bigger role in our economic growth,” Azevedo affirmed.
