The National Oil, Gas & Biofuels Agency (ANPG) – Angola’s concessionaire and regulator – announced on Tuesday that 15 new concessions will be awarded in the Central African country before the end of 2024.

Speaking during the Angola Oil & Gas (AOG) 2024 pre-conference on Tuesday, the ANPG’s Director of Negotiations Hélder Iombo said that these additional licenses bring the total number of awarded blocks in the country to 47 since 2019.

According to a statement posted on AOG website, Angola currently offers 30 block opportunities. The country concluded its 2023 tender in January 2024, securing 53 bids, and is preparing to launch its next bid round in the first quarter of 2025.

To date, 32 concessions have been awarded since 2019, with more than 50 blocks expected to be licensed at the end of the country’s six-year licensing round next year.

An investment pipeline of more than $60 billion is also planned across the upstream market within the next five years, mainly from work budgets that have already been approved, the statement noted.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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