TotalEnergies and ExxonMobil have signed an agreement with the National Agency of Petroleum, Gas and Biofuels (ANPG) to undertake prospective studies on offshore blocks 17/O6 and 32/21 in Angola. These areas, located off the Angolan coast, are already known to host several producing oil fields, including Girassol, Dalia, Pazflor, and Kaombo.
Objective of the prospective studies
The primary objective of this initiative is to identify new drilling targets to strengthen the country’s oil production. Currently, few details have been disclosed regarding the implementation of these studies. However, this initiative is part of the Angolan government’s strategy to keep national oil production above the one million barrels per day threshold.
Context of oil production in Angola
Since reaching a peak of 1.8 million barrels per day in 2010, Angola’s oil production has gradually declined, averaging 1.2 million barrels per day in 2023. According to a report published in 2022 by Fitch Solutions, this downward trend could continue, with a further 20% decrease expected by 2031. Given this outlook, the exploration of strategic areas such as blocks 17 and 32 is seen as a key option to reverse this trend.
Similar initiatives
A similar agreement was signed between ANPG and Shell to conduct prospective studies on offshore blocks 19, 34, 35, 37, and 43. These initiatives reflect the ongoing efforts of the Angolan government and its international partners to explore new opportunities and revitalise the country’s oil sector.
