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Issuer developmentsAngolaDeveloping story

Angola’s ANPG signs 11 upstream agreements at AOG 2026 to advance exploration and development

On 14–18 September 2026 ANPG formalized 11 upstream agreements at AOG 2026, including risk-service and heads-of-terms covering deepwater Blocks 19, 34, 35, Blocks 8 and 22, Block 33/24, Blocks 17/25 and 32/21 and further investment in Block 32, with multi-year exploration and production terms.

MSA Market DeskEvent 14 September 2026Reviewed 1 min read

The desk brief

On 14–18 September 2026 ANPG formalized 11 upstream agreements at AOG 2026, including risk-service and heads-of-terms covering deepwater Blocks 19, 34, 35, Blocks 8 and 22, Block 33/24, Blocks 17/25 and 32/21 and further investment in Block 32, with multi-year exploration and production terms.

The signed agreements formalise exploration commitments and multi‑decade production terms that, if executed, increase the probability of stabilised future oil output and government receipts. That outcome would support long‑dated Angolan sovereign and project‑linked cashflows; however, material credit/market transmission depends on execution milestones (seismic, well spuds, FID and production timing).

Spud dates for the first committed exploration wells and any announced final investment decisions (FIDs).

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Price Discovery

Angola sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

9 priced bonds
11.32%10.05%8.77%7.49%6.22%20282033203920442049Angola 28 · May 2028 · 6.894%Angola 29 · Nov 2029 · 8.113%Angola 31 · Jan 2031 · 8.857%Angola 32 · Apr 2032 · 9.298%Angola 33 · Mar 2033 · 9.678%Angola 35 · Oct 2035 · 9.906%Angola 37 · Mar 2037 · 10.168%Angola 48 · May 2048 · 10.598%Angola 49 · Nov 2049 · 10.646%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Angola 28May 2028101.9386.894%
  • Angola 29Nov 202999.6888.113%
  • Angola 31Jan 2031101.3138.857%
  • Angola 32Apr 203297.6889.298%
  • Angola 33Mar 203398.5639.678%
  • Angola 35Oct 203599.8139.906%
  • Angola 37Mar 203798.12510.168%
  • Angola 48May 204889.68810.598%
  • Angola 49Nov 204987.00010.646%

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