Angola projects more than $70bn oil and gas investment as majors sign deepwater deals
Angola's oil regulator projects more than $70bn of investment over the next five years across oil and gas exploration, production, natural gas and energy infrastructure. At the Angola Oil & Gas 2026 conference, ANPG signed risk-service contracts for deepwater Blocks 19, 34 and 35 with Shell, Equinor and Sonangol, and a risk-service contract for Block 33/24 with Chevron, Shell and Sonangol. TotalEnergies signed agreements for interests in two Lower Congo Basin blocks, while the Shell-QatarEnergy-Sonangol agreement for Kwanza Basin Blocks 8 and 22 remains preliminary.
Why it matters: This matters for the energy-investment theme, as Angola is using new deepwater contracts to counter declining mature-field output.