Angola’s oil industry is experiencing a transformative phase as the government and private sector ramp up efforts to boost production and attract investment. Recent announcements at the Angola Oil & Gas (AOG) 2025 Conference and Exhibition have highlighted major developments, including significant mergers and acquisitions (M&A) by Etu Energias and the government’s planned licensing round set for the fourth quarter of 2025. These initiatives underline Angola’s commitment to sustaining its position as a major oil producer in Africa.
Etu Energias: Leading Private Sector Investments
On September 7, 2025, Edson dos Santos, CEO of Etu Energias, revealed during an on-stage interview at the AOG 2025 conference that the company has closed nearly $1 billion in M&A transactions since 2022. According to dos Santos, these deals are part of the company’s ambitious strategy to expand its portfolio and increase production to 80,000 barrels per day (bpd) by 2030. As reported by Zawya, the company’s current projects include eight exploration ventures, ten development initiatives, and seven redevelopment efforts, both onshore and offshore.
In July 2025, Etu Energias launched drilling activities in Block 2/05, which includes three development wells, one exploration well, and five technical interventions. These activities are part of a broader work program aimed at completing exploration studies by the end of 2025. The company also announced plans to launch an Initial Public Offering (IPO) in 2026 to secure additional capital for its exploration and production projects.
Government Licensing Round to Sustain Production
Angola’s Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, announced that the country’s next licensing round would open in the fourth quarter of 2025. This marks the final phase of a multi-year licensing strategy launched in 2019, which aimed to award 50 concessions. As highlighted by Bloomberg, the upcoming round will focus on the Kwanza and Benguela basins, regions known for their hydrocarbon potential.
Minister Azevedo emphasized the importance of this licensing round in maintaining Angola’s oil production above one million bpd in 2026 and beyond. To achieve this, the government has implemented legislative reforms and introduced a permanent offer regime to attract both international and local investors. Azevedo noted, “We want to see more Angolans participating in the industry,” underlining the government’s efforts to foster local entrepreneurship and capacity-building in the oil sector.
Challenges and Opportunities in Angola’s Oil Sector
While Angola’s oil industry has shown resilience, it faces challenges such as declining production from mature fields. To counter this, the government and private players are focusing on exploring new deposits and developing marginal fields. According to Zawya, Angola’s legislative reforms have played a crucial role in creating a favorable investment environment, attracting global energy companies to its oil-rich basins.
Additionally, the government’s focus on diversifying the economy and increasing local participation in the oil and gas sector could lead to long-term sustainability. By integrating local businesses and talent into the industry, Angola aims to ensure that the benefits of its natural resources extend to its citizens.
Looking Ahead: Angola’s Oil Future
With significant investments from companies like Etu Energias and progressive government policies, Angola is poised to strengthen its position as a leading oil producer in Africa. The upcoming licensing round and continued exploration efforts are expected to unlock new opportunities for growth and collaboration in the sector.
As Angola navigates its ambitious goals, the country’s oil industry is set to play a pivotal role in shaping its economic future, balancing international partnerships with local empowerment.