Angola to launch new oil licensing round in late 2025

[Angola on the map]
francisLM

Angola is preparing to open its next oil licensing round by the fourth quarter, part of a broader push to stabilize production levels above 1 million barrels a day.

The auction will mark the final stage of a multiyear plan introduced in 2019 that sought to distribute 50 exploration and production concessions in Africa’s third-largest oil producer.

“We have a goal to achieve one million barrels per day in the next year,” Mineral Resources, Petroleum and Gas Minister Diamantino Azevedo said in prepared remarks [https://www.zawya.com/en/press-release/africa-press-releases/angola-to-launch-next-licensing-round-by-q4-2025-v3c0rzyt] on Sunday. “We are a country with matured wells in our fields. Our solution is to look for new deposits.”

The move reflects Luanda’s continued efforts to draw foreign investment into its energy sector. Angola’s output dipped below 1 million barrels a day in July for the first time since it exited OPEC in 2023, highlighting the urgency to secure fresh discoveries.

MORE ON CRUDE OIL FUTURES, BRENT FUTURES

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