• Angola, Shell to begin exclusive talks on offshore oil blocks 19, 34, 35

• Deal aims to attract investment, revive output near 1.03M barrels/day

• Follows similar agreements with Chevron, ExxonMobil to boost offshore sector

Angola will sign an exclusive negotiation agreement with Anglo-Dutch oil major Shell on Monday, Nov. 3, for the exploration and development of several offshore oil blocks, including blocks 19, 34, and 35.

The news was reported on Oct. 31 by international media citing Angola’s National Agency for Oil, Gas and Biofuels (ANPG), which oversees the country’s petroleum concessions.

The planned agreement is not yet an exploration and production contract, but it grants Shell exclusive rights to negotiate with the Angolan government over the specified blocks. According to the ANPG, the deal represents “an important milestone” in Angola’s strategy to strengthen the participation of major investors in its offshore sector.

The agreement establishes a framework for exclusive negotiations that could lead to a production-sharing contract. It comes as Angola’s oil output has hovered around 1.03 million barrels per day in recent months, down from more than 1.4 million barrels a decade ago, according to official data.

As sub-Saharan Africa’s second-largest crude producer, Angola is seeking new partnerships to revive production and maintain its position as a leading player in the regional oil market. By working with Shell, known for its deepwater drilling expertise, Luanda hopes to attract both capital and advanced technology to explore complex offshore zones along its Atlantic coast.

The prospective deal with Shell follows a broader trend of renewed engagement with international oil companies. In September 2025, U.S. company Chevron signed a preliminary agreement with the Angolan government to explore a new offshore block, expanding on its long-standing presence in Block 0 and its development of the Mafumeira Sul field.

That same month, ExxonMobil secured a license extension for Block 15, reaffirming its commitment to sustaining and optimizing production from the mature asset. These moves reflect Luanda’s broader strategy to reinvigorate offshore exploration and draw new foreign investment amid a steady decline in national output.

Abdel-Latif Boureima