Angola said it will launch a new oil licensing round in the last quarter of 2025 as its crude oil production continues to fall below one million barrels per day (bdp).
The announcement was made by Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, during the Angola Oil & Gas Conference in Luanda on Sunday.
The minister said the upcoming round will open oil blocks in the Kwanza and Benguela basins.
He explained that the measure forms part of the government’s strategy to boost output and counter declining volumes from the country’s ageing fields.
The 2025 licensing round will be the last under Angola’s multi year bid strategy that started in 2019.
The plan was designed to award 50 concessions, opening both offshore and onshore blocks to foreign and local companies.
“We have a goal to achieve one million bdp 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,” Azevedo said.
“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 minister noted that Angola’s production has dropped steadily in recent years as older wells mature and foreign investment slowed.
Angola, which was once Africa’s top producer alongside Nigeria, now pumps under one million BPD compared to nearly two million BPD a decade ago.
Azevedo said that reforms in the country’s oil and gas laws were designed to attract new exploration and keep existing investors engaged.
He added that the licensing strategy is complemented by the “permanent offer regime,” which allows companies to bid for available blocks outside of a formal round.
“We have legislation for the marginal fields. Another programme that is going well is the internal basins. We still have a flexible strategy, where investors can seize blocks,” he stated.
According to him, the government worked closely with private players in crafting reforms, creating what he called “win win mechanisms” for both the state and investors.
The minister mentioned that these changes had already encouraged new foreign entrants as well as reinvestment by long standing operators.
He said the government will continue updating regulations to meet industry demands and strengthen the role of Angolan institutions in managing resources.
Local participation in Angola’s oil output
Beyond attracting global companies, Angola also wants more involvement from its own citizens in the energy sector.
Azevedo explained that new measures will encourage Angolan entrepreneurs and businesses to play an active role in oil production and related services.
“We want to see more Angolans participating in the industry. We also want to see national Angolan companies be more active in our economic growth,” he said.
“We want to bring legislation that supports this.”
The minister noted that local capacity development is central to Angola’s long term vision for the oil and gas industry.
He added that the government aims to balance foreign partnerships with domestic growth opportunities.
The announcement of a new licensing round comes at a critical time for Angola’s economy, which depends heavily on crude exports for government revenue.
Oil accounts for more than 90% of Angola’s foreign exchange earnings and about 60% of state revenue.
In recent years, falling production has threatened fiscal stability.
The government hopes that opening new oil blocks, alongside reforms, will secure investment to raise output and sustain it above one million BPD from 2026 onwards.
In sum, the minister’s remarks set the tone for Angola’s energy policy going forward.
The final licensing round under the current strategy is expected to draw strong attention from international players while giving Angolan companies room to expand in the industry.
