AOG 2026 closes with focus on refining, exploration and new investment

The seventh Angola Oil & Gas (AOG 2026) International Conference and Exhibition concluded in Luanda, highlighting significant exploration announcements, multibillion-dollar agreements, and QatarEnergy's role in advancing Angola's offshore ambitions. The event brought together senior government officials, oil majors, investors, financial institutions, and industry experts for strategic discussions on the future of Angola's energy sector.

A key focus of the closing day was the development of Angola's downstream sector, with a leadership roundtable examining the importance of building downstream assets to reduce the country's dependence on imported petroleum products and capture greater value from domestic crude. Sonangol Chairman Sebastião Gaspar Martins announced that Angola is seeking financing from international partners for its 200,000-barrel-per-day Lobito Refinery, aiming to increase refining capacity from the current 70%.

Exploration was another major theme, with a session discussing advances in pre-salt exploration in the onshore Kwanza Basin through the KON-16 case study. Significant contract-signing sessions followed major deals announced earlier, including agreements between the National Oil, Gas and Biofuels Agency (ANPG) and Shell, Equinor, and Sonangol E&P for risk-service contracts covering deepwater Blocks 19, 34, and 35.

TotalEnergies also announced a new oil discovery and acquisitions in Angola, with plans to invest $10 billion over the next five years.

The exhibition showcased technologies and services for the oil and gas industry, with more than 50 providers in attendance. The AOG Gala Dinner and Awards recognized companies and projects advancing exploration, investment, local participation, and sustainable practices. The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, emphasized the government's commitment to contractual stability and legal certainty, as well as a competitive business environment.