Angola Seeks Revival of Stagnant Oil Production

Angola's oil production has stalled at around 1 million-1.1 million barrels per day since 2021, despite efforts to attract capital and boost exploration.

The country has been implementing various reforms in its oil and gas sector since 2018, including the creation of ANGP, Angola's independent upstream regulator, and new regulations for marginal fields, gas monetization, and cross-license development.

Luanda is now redoubling efforts to attract capital with sweeter terms and promises of increased drilling activity, both offshore and onshore.

Helder Iombo, ANPG's director of negotiations, said 'We're always looking to reinvent ourselves' during an interview at the Africa Oil Week conference in Accra.