Angola Signs Exclusive Negotiation Agreement with Shell
Angola has signed an exclusive negotiation agreement with Anglo-Dutch oil giant Shell, covering the exploration and development of several offshore oil blocks, including Blocks 19, 34, and 35. The announcement was made on October 31 by international media, citing Angola’s National Agency for Oil, Gas and Biofuels (ANPG), which manages the country’s petroleum concessions. While
Angola Signs Exclusive Negotiation Agreement with Shell
Angola has signed an exclusive negotiation agreement with Anglo-Dutch oil giant Shell, covering the exploration and development of several offshore oil blocks, including Blocks 19, 34, and 35. The announcement was made on October 31 by international media, citing Angola’s National Agency for Oil, Gas and Biofuels (ANPG), which manages the country’s petroleum concessions.
While the agreement does not constitute an exploration and production contract, it grants Shell exclusive rights to negotiate with the Angolan government regarding the designated blocks. The ANPG describes the deal as “an important milestone” in Angola’s efforts to attract major investors to its offshore sector.
Strategic Importance for Angola
The agreement provides a framework for exclusive negotiations that could eventually lead to a production-sharing contract. Angola’s oil output has averaged around 1.03 million barrels per day in recent months, down from over 1.4 million barrels a decade ago, according to official figures. As sub-Saharan Africa’s second-largest crude producer, Angola is seeking new partnerships to revive production and sustain its role as a key regional oil player.
By partnering with Shell, renowned for its deepwater drilling expertise, Luanda aims to bring in both capital and advanced technology to explore complex offshore zones along its Atlantic coast.
Engagement with International Oil Companies
This latest development follows a broader trend of renewed engagement with international oil companies. In September 2025, U.S.-based Chevron signed a preliminary agreement to explore a new offshore block, building on its existing operations in Block 0 and the Mafumeira Sul field. ExxonMobil also secured a license extension for Block 15, reaffirming its commitment to maintaining and optimizing production from mature assets.
These developments suggest Angola’s strategy to reinvigorate offshore exploration and attract foreign investment amid a gradual decline in national oil output.
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