LUANDA, Angola, April 2, 2026
Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, will once again headline the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9-10 with a pre-conference day on September 8. The event comes at a time when new projects, renewed exploration and downstream expansion are reshaping the country’s oil and gas outlook, positioning it on the precipice of a new production cycle. Minister Azevedo’s participation reflects the government’s commitment to engaging investors, tackling industry challenges and advancing the country’s $70 billion upstream investment pipeline.
AOG 2026 arrives at a critical time for Angola’s oil and gas market. With key project milestones achieved in the first few months of 2026, the country is entering a new phase defined less by decline concerns and more by production stabilization, gas monetization and new investment opportunities. Just this month, the New Gas Consortium achieved first gas delivery from the Quiluma field – part of Angola’s first non-associated gas project – with initial output estimated at 150 million standard cubic feet per day. This followed the start of operations at the Ndungu field in February 2026, marking a key step forward in the broader Agogo Integrated West Hub Development.
Offshore momentum continues to define Angola’s upstream sector, with redevelopment programs, new agreements and exploration campaigns underway. A principles agreement was signed between the ANPG, TotalEnergies and ExxonMobil for the allocation of four blocks in the frontier Benguela and Namibe Basins in March, laying the foundation for the signing of the respective production sharing contracts. Angola’s Block 15/06 partners announced the Algaita-01 discovery in February 2026, with estimated reserves of 500 million barrels of oil. Sonangol, Afentra, Maurel & Prom and NIS Naftgas are advancing redevelopment activities at Blocks 3/05 and 3/05A, with plans for two infill wells in 2026. At Block 3/24, Afentra is eyeing FID in late 2026 or early 2027 as the company moves toward the development phase. The anticipated launch of the country’s next licensing round is expected to drive new investment in exploration.
Onshore exploration is also gaining traction. Corcel recently raised £3.6 million to accelerate its exploration program at KON 16 as it moves from seismic interpretation to drilling within the next 12 months. ReconAfrica is advancing geochemical sampling and permitting for a potential 2D seismic in the Damara Fold Belt, while Afentra is currently acquiring geophysical data to delineate the highly prospective KON 4 acreage. Recent months have also seen Nigeria’s Oando Energy Resources assume operatorship of Block KON 13, while Angola’s Sonangol is leading exploration activities at KON 11, KON 12 and KON 15. The Lower Congo basin is witnessing similar momentum, led by companies such as Etu Energias, ACREP and Walcot Energy.
Angola’s upstream drive is complemented by ambitions to strengthen the downstream sector. Following the start of operations at the Cabinda oil refinery in 2025, Angola is looking at bringing the 200,000 bpd Lobito refinery online in 2027. Preparations are also underway to develop the 100,000 bpd Soyo facility, with the country seeking foreign investment to complete these strategic projects.
With new production coming online, a licensing round on the horizon and refining capacity expanding, Angola is positioning itself as one of the few markets offering both near-term production growth and long-term exploration potential. Against this backdrop, AOG 2026 comes at a critical time for the global industry, as investors increasingly look to proven hydrocarbon basins with expansion potential, stable regulatory frameworks and clear project pipelines. In a tighter global supply environment, Angola is not just participating in the market – it is becoming increasingly central to it.
