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Issuer developmentsAngolaDeveloping story

TotalEnergies announces planned $10bn investment in Angola over five years

On 10 September 2026 TotalEnergies announced plans to invest US$10 billion in Angola over the next five years, aiming to boost offshore production (including the $6bn Kaminho project) and expand exploration licences in Blocks 17 and 32, supporting medium‑term hydrocarbon output and fiscal receipts.

MSA Market DeskEvent 10 September 2026Reviewed 1 min read

The desk brief

On 10 September 2026 TotalEnergies announced plans to invest US$10 billion in Angola over the next five years, aiming to boost offshore production (including the $6bn Kaminho project) and expand exploration licences in Blocks 17 and 32, supporting medium‑term hydrocarbon output and fiscal receipts.

A $10bn multi‑year upstream investment program by the country’s largest operator could help stabilise oil output, supporting Angolan export receipts and fiscal revenues over the medium term. That can ease sovereign rollover and liquidity pressures and improve external financing capacity, conditional on project delivery, oil prices and timely revenue transfers to government accounts.

Monitor Kaminho project milestones (production target 2028) and progress on Blocks 17/25 and 32/21 exploration.

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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%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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