Angola stands out as one of the most striking examples of oil sector revitalization in Africa. Thanks to a series of structural reforms and a proactive investment attraction strategy, the country has succeeded in reversing its decline and sustainably revitalizing its hydrocarbon industry.
The Foundations of a 10-Year Transformation
In his book *Crude Oil: Power, Turnaround, and Transformation in Angola*, NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), examines this transformation, which he attributes to major political and institutional choices made since 2017.
This transformation took place under the presidency of João Manuel Gonçalves Lourenço and with the support of the Minister of Mineral Resources, Petroleum and Gas, Diamantino Pedro Azevedo.
The Pillars of the Angolan Model
The new Angolan model rests on several strategic pillars:
- Business Environment (Easing of entry visa requirements, improved tax conditions)
- Attractiveness of Blocks (4 licensing rounds, 40 blocks offered in 5 years)
- Committed Investments (USD 60 billion potential, USD 71 billion planned until 2028)
- Target Production (Maintaining above 1 million barrels/day)
Renewed Interest from International Majors
Angola is experiencing a genuine revival of exploration with the return of major international oil companies. Key players include:
- TotalEnergies: participation in the rehabilitation of mature wells
- ExxonMobil: deepwater discovery in Block 15 (Kizomba B area)
- Azule Energy (BP/Eni joint venture): USD 5 billion investment over 4-5 years, 18 new producing wells
These investments have allowed Angolan production to return to its usual plateau, rising from 998,757 b/d in July 2025 to 1.03 million b/d in August 2025.
Considerable reserves still underexploited
Angola possesses massive energy resources:
- Oil (9 billion barrels)
- Natural gas (11 trillion cubic feet)
- Natural gas (27 trillion cubic feet)
The country is expected to begin gas production on its second non-associated gas project in the second half of 2025.
Why this model is of interest to Africa
The oil sector remains central For the Angolan economy:
- 90% of exports
- 28.9% of GDP
- ~70% of government revenue
The Angolan approach demonstrates that an African country can:
- Reverse declining production through targeted reforms
- Attract major international companies with an improved business environment
- Develop natural gas as a complement to oil
- Create a ripple effect for local industrial ecosystems
Diversification and upgrading
Beyond exploitation, Angola is embarking on a strategic shift towards diversification and upgrading by 2025:
- Development of refining infrastructure to sell finished products
- Targeting new emerging markets (India, China, South Africa)
- Investments in port logistics (Lobito Corridor)
- Tax incentives for renewable energy and petrochemicals
The goal is to increase export revenues by 20% by 2030 while creating Several thousand jobs.
Key takeaways
The Angolan model proves that an African country dependent on hydrocarbons can transform its oil sector through structural reforms, transparent governance, and an investment attraction strategy.
For other African countries, Angola offers an example of industrial revitalization that combines:
- Strong political will
- Improved business environment
- Partnerships with major international companies
- Long-term vision including gas and diversification
