Angola Signs Offshore Exploration Deals with Shell, Chevron, TotalEnergies

Angola has signed a series of offshore exploration agreements with top oil majors Shell, Chevron, TotalEnergies, and others to explore deepwater blocks across the Kwanza and Congo basins. The deals were formalized during the Angola Oil & Gas 2026 conference in Luanda and mark the latest effort to advance exploration and investment across Angola's offshore acreage.

The National Agency for Petroleum, Gas and Biofuels (ANPG) signed risk-service contracts with Shell, Equinor, and Sonangol E&P for deepwater Blocks 19, 34, and 35. The agreements establish terms for exploration, appraisal, development, and production, including an initial five-year exploration period and a 30-year production period for each approved commercial discovery.

The deals also include work commitments such as seismic data reprocessing and drilling at least one exploration well. In the Kwanza basin, ANPG signed Heads of Terms with Shell, QatarEnergy, and Sonangol covering Blocks 8 and 22, which establishes a framework for exploration, appraisal, development, and production.

Separate risk-service agreements were also signed in the Congo basin, including one with Chevron, Shell, and Sonangol for Block 33/24. ANPG and TotalEnergies also agreed to reduce emissions from oil and gas production and improve methane measurement through a memorandum of understanding.