The data comes from the Minister of Mineral Resources, Oil and Gas, who was responding in this way to the theme of the 1st edition of Conversations without Makas, proposed by economist Carlos Rosado de Carvalho, "What Oil and Gas (Still) Have to Give to Angola and What the Country Can Expect from Critical Minerals", ensuring that Angola continues to invest in this sector.
Diamantino Azevedo indicated that the authorities want to bid for at least 55 concessions by 2027, having already concluded 32 awards, as well as 15 blocks in permanent offer.
The minister highlighted the objective of stabilizing oil production at one million barrels per day in the coming years, with this strategy including the development of marginal fields and the redevelopment of mature fields, in addition to incentives for incremental production.
In the same vein, the number of rigs was also increased, from 11 in 2017 to 16 this year, and 98 wells were completed between 2022 and 2024, he said.
The minister referred to the energy transition, saying that Angola will not "comply with third-party agendas", but assured that Angola intends to produce oil "with all possible decarbonisation measures".
"In the future, oil will be sold better. It is a political but also a commercial issue", he emphasised.
Regarding the mining sector, he pointed out several ongoing projects, including the Luanda gold refinery (2025), the Dundo Development Hub (2026), the Diamond Exchange (2026), the Kassinga integrated mining and steel project (2026), the Soyo fertilizer factory (2027), the rare earths project (2026) and the Namibe Ornamental Rocks Development Hub (2027).
Last year, the oil sector accounted for 94 percent of Angolan exports and the mining sector 4.26 percent.
Diamantino Azevedo also addressed the development of the gas sector, with the first gas production from the new gas consortium expected by the end of 2025, six months earlier than initially forecast.
During the current term, it also intends to complete the preparation of the Gas Master Plan and guarantee the supply of natural gas for the fertilizer industry, steel industry and for the production of electricity.
