Angola Prepares Final Licensing Round by Q4 2025
Angola’s Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo has announced that the country’s next licensing round will open by Q4 2025, offering acreage in the proven Kwanza and Benguela basins as part of efforts to sustain oil production above one million barrels per day in 2026 and beyond.
The upcoming licensing round represents the final bid round under Angola’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 addresses production decline from maturing wells.
“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,” stated Minister Azevedo.
The licensing round coincides with an ambitious government strategy to attract investment in both active and emerging basins. Complementing the licensing strategy is Angola’s permanent offer regime and marginal field prospects, both designed to entice investment in undeveloped or smaller-scale assets.
The reforms have attracted new investment and supported reinvestments by active players. “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,” Minister Azevedo noted. Beyond international partnerships, Angola is working to enhance local participation in the oil and gas sector. The minister highlighted the role of local players, emphasizing the need to position Angolan entrepreneurs and businesses at the forefront of sectoral growth.
Source: eurasiareview.com
