Angola is preparing for a new phase of oil and gas development, supported by its 2025–2050 Hydrocarbon Strategy and an estimated $70 billion upstream investment pipeline over the next five years. 

The strategy aims to accelerate exploration, investment, discoveries and production while attracting international capital.

Afreximbank and the African Petroleum Producers’ Organisation are expected to launch the Africa Energy Bank in November, potentially providing new financing for energy projects across the continent. 

Industry leaders say mobilising African capital will be critical to converting resource wealth into economic development.

Sonangol is also expanding its operational role, with interests in 42 concessions and operations across 11. 

The company invested $10.5 billion between 2021 and 2025 and is increasing its focus on gas, petrochemicals and industrial activities.

Downstream, Angola is strengthening domestic refining, storage and distribution capacity. 

The Cabinda Refinery has been completed, while the Lobito Refinery is scheduled to begin operations in 2027. 

Authorities expect further opportunities in pipelines, terminals, storage and distribution.

The developments reflect Angola’s broader push to attract investment, expand domestic energy capacity and capture greater value from its oil and gas resources. 

With new financing mechanisms emerging and upstream projects advancing, the country is positioning exploration, infrastructure and execution at the centre of its long-term energy strategy.