ANPG signs multiple deepwater risk-service contracts and block agreements at AOG 2026

On 11 September 2026 ANPG formalised a series of deepwater risk-service contracts, block entries and Heads of Terms with major IOCs (Shell, Equinor, TotalEnergies, Chevron, ExxonMobil, QatarEnergy and Sonangol) covering multiple Kwanza and Congo Basin blocks, establishing five-year exploration windows and 30-year production terms for commercial discoveries.

These formal agreements expand Angola’s upstream exploration programme and, if partners execute seismic, drilling and development plans, could increase future hydrocarbon production and sovereign oil revenues over time. Credit effects depend on partner capex delivery, discovery success and timelines: the deals reduce contractual uncertainty but do not guarantee near-term production or immediate sovereign cashflow changes.

First confirmed spud or completion of mandated seismic reprocessing on any signed block (expected within the five-year exploration window).