Angola’s National Oil, Gas and Biofuels Agency (ANPG) is set to sign an exclusive agreement with energy giant Shell for the exploration and development of several offshore oil blocks, including Blocks 19, 34, and 35, along with multiple ultra-deepwater fields.
The signing ceremony, scheduled for November 3, marks Shell’s return to Angola after nearly two decades, a move that underscores renewed investor confidence in the country’s oil industry.
The ANPG described the agreement as “a historic moment for the Angolan oil sector, consolidating Shell’s presence in the country.”
After years of declining output caused by ageing infrastructure and underinvestment, Angola, Sub-Saharan Africa’s second-largest crude producer, is experiencing a revival.
The government’s recent fiscal and regulatory reforms have been instrumental in attracting global players back into its petroleum sector, ensuring national output remains above one million barrels per day.
Central to Angola’s energy resurgence is the long-anticipated Cabinda Refinery, the first to be built since the country gained independence nearly 50 years ago.
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The facility, expected to commence operations by the end of 2025, will process 30,000 barrels of oil per day, reducing the country’s dependence on costly fuel imports and strengthening domestic refining capacity.
The project also aligns with the government’s gradual phase-out of fuel subsidies — a necessary but sensitive policy shift aimed at stabilising public finances and reducing economic pressure.
While oil remains the backbone of Angola’s economy, the government is pushing for greater diversification, focusing on copper and other strategic minerals critical to the global clean energy transition.
The upcoming Tetelo copper mine is a key component of this plan, signaling a shift toward a more balanced and resilient resource-based economy. The exclusive Shell-ANPG agreement reflects a broader national strategy — one that seeks to boost exploration, secure long-term output, and increase local value creation in Angola’s energy sector.
