Africa-Press – Angola. Investments in concessions in Angola’s oil sector have increased from eight billion US dollars to USD 14 billion per year, from 2019 to 2025, representing almost double the financial volume in the country.
The information was disclosed Friday in Luanda by the CEO of the National Agency for Petroleum, Gas and Biofuels (ANPG), Paulino JeroĢnimo, during the celebrations of the institution’s 7th anniversary celebrated on February 6.
He said that the forecast for the next five years is to reach a total investment of over 70 billion US dollars /year.
In the face of the decline that have been recorded in recent years, the manager assured that work is underway to replace about 140 to 150,000 barrels of oil per day.
He recalled that this milestone was once easy to reach in (2001, 2002, 2003, and 2004), when Angola’s daily production was almost two million barrels per day.
“Today it hasn’t been easy, because our discoveries are smaller, at around 30,000 barrels per day, added to the production in mature fields, whose projects have been providing encouragement to maintain production above one million barrels,” he explained.
Jeronimo added that since the creation of ANPG, the sector has undergone structural transformations marked by new environmental demands, greater regulatory pressure, and increasingly intense international competition in attracting investments.
He added that, by 2030, the agency aims to ensure the stabilization of production above one million barrels per day and to develop biofuels as a concrete alternative in diversifying the energy matrix.
The ANPG CEO said that the pillars of the institution’s new strategic cycle also include prioritizing local content as an engine for economic development and the creation of sustainable value, strengthening the impact of social responsibility policies aligned with the real needs of communities, and valuing human capital.
The National Agency of Petroleum, Gas and Biofuels (ANPG) was created in 2019, through Presidential Decree No. 49/19, with the objective of assuming the role of National Concessionaire, regulating, supervising, and promoting exploration and production activities (Upstream) in the oil sector.
Its creation aimed to restructure the sector, transferring the concession functions previously held by Sonangol, thus increasing efficiency, transparency, and private investment in the oil, gas, and biofuel segments.
