The move aims to help stabilize the economy and allow the country to reclaim control over its production strategy.

Highlights:

● Angola launched TotalEnergies-led Begonia and CLOV Phase 3, adding 60,000 b/d to national output.

● Country targets a stable production plateau above 1.1 million b/d by 2027, using existing offshore infrastructure.

● ANPG to offer 50 exploration blocks and invest $60B in hydrocarbons through 2030. 

The Begonia field in Block 17/06 and the third development phase of the CLOV project in Block 17 both officially came online on July 23. Operated by France’s TotalEnergies, the combined developments add 60,000 barrels per day (b/d) to Angola’s output, which has hovered around 1.1 million b/d in recent years.

By building on existing offshore infrastructure, Luanda is aiming for a low-cost, high-impact strategy. It allows the country to ramp up production without committing to heavy new capital expenditures. The projects align with the Angolan National Petroleum Agency’s (ANPG) target: maintain a stable production plateau exceeding 1.1 million b/d by 2027.

Angola’s December 2023 exit from OPEC was a clear message—the country wanted to break free from production ceilings and pursue output growth on its terms. Most of Angola’s oil reserves lie in mature offshore fields, which are in decline. Yet oil still represents over 90% of export earnings and around 65% of government revenues, according to the French Treasury.

To sustain future production, Luanda is banking on at least five offshore developments through 2027. These include Eni’s Agogo Integrated West Hub and the Cameia-Golfinho project, also operated by TotalEnergies. In parallel, ANPG is accelerating exploration. Up to 50 blocks—many in deepwater—are being offered via tenders and a permanent allocation framework.

This upstream expansion falls under a $60 billion hydrocarbons investment plan extending to 2030. For Angola, it’s a strategic race against time to extract value from offshore reserves while avoiding deeper economic vulnerability.

This article was initially published in French by Abdel-Latif Boureima

Edited in English by Ola Schad Akinocho