ANPG signs multiple deepwater risk-service contracts at AOG 2026, advancing Angola exploration

On 11 Sep 2026 ANPG formalised a series of deepwater risk-service contracts and Heads of Terms with majors (Shell, Equinor, Chevron, TotalEnergies, QatarEnergy, ExxonMobil and Sonangol) covering multiple Kwanza and Congo Basin blocks, establishing up to five-year exploration periods and 30-year production terms and committing seismic reprocessing and at least one exploration well per block.

The contracts formalise exploration work programs (seismic reprocessing and drilling) that, if discoveries are commercialised, could raise future hydrocarbon production and fiscal receipts—supporting long-dated Angolan sovereign revenue prospects. The impact on Angola’s USD Eurobond curve depends on discovery scale, timing to first production, and subsequent state take; signing alone does not imply immediate sovereign re-rating.

Spudding of the first exploration well under the new contracts within the initial five-year exploration periods.