Angolan President João Lourenço called on the nation to capitalize on its extensive oil and gas resources to drive sustainable economic transformation during the opening of the 2025 Angola Oil & Gas (AOG) conference in Luanda on Wednesday.
Highlighting the sector’s historical role since Angola’s independence in 1975, Lourenço said, “The oil sector has been instrumental for the growth of our country. Exploration and production of natural resources has contributed to the improvement of the living conditions of the people of Angola.” He stressed that these resources “will continue to strengthen the Angolan economy for years to come.”
The president urged enhanced collaboration between international investors and local partners, emphasizing that Angola offers “investment conditions that ensure contract stability, legal certainty, and investment durability.” He added, “Cooperation between private and public sectors, between international companies and local partners, will be key for achieving our aspirations.”
The AOG 2025 conference comes as Angola records several industry milestones. Upstream production has recently commenced at the Agogo FPSO, Begonia oilfield, and CLOV Phase 3 developments. A new gas discovery at Block 1/14 in the Lower Congo Basin has also expanded exploration opportunities across both onshore and offshore basins.
“Our current actions are directed towards mitigating production decline and keeping output above one million barrels per day,” said Mineral Resources, Petroleum and Gas Minister Diamantino Azevedo. He highlighted ongoing developments in Blocks 17 and 17/06, as well as the Kaminho project, as essential to sustaining production.
On the downstream front, the Cabinda Refinery began operations on September 1, adding 30,000 barrels per day in its first phase, with plans to double capacity. The facility aims to reduce refined fuel imports and strengthen national energy security. Additional initiatives include the Lobito refinery and feasibility studies for the Soyo plant.
Azevedo also announced legislative reforms designed to increase local participation in the oil and gas sector, positioning Angola as a regional energy hub. “The commitment is to widen partnerships and create value for the people of Angola,” he said.
The AOG conference serves as a strategic platform for dealmaking and policy dialogue, with stakeholders exploring ways to harness Angola’s hydrocarbon wealth to promote economic growth, social equity, and environmental stewardship over the next 50 years.
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