Sonangol Backs Angola Energy Growth Ahead of AOG 2026

Sonangol is targeting at least 10% of Angola's oil and gas production by 2027, with exploration and production activities expanding across both onshore and offshore assets.

Angola's national oil company, Sonangol, will return as a Diamond Sponsor of the Angola Oil & Gas (AOG) Conference and Exhibition 2026, reinforcing its commitment to expanding the country's oil and gas industry. The conference, scheduled for 9-10 September with a pre-conference programme on 8 September, is regarded as Angola's leading platform for attracting investment, building partnerships and shaping the future of the country's energy sector.

Sonangol's participation comes as Angola continues working to maintain crude oil production above one million barrels per day while expanding natural gas development and increasing domestic refining capacity. The company has recently strengthened its financial position by securing a $2.65 billion financing package from international lenders and an additional $1.75 billion facility from Afreximbank to support ongoing operations and future investments.

Exploration and production projects gather pace

Sonangol is targeting at least 10% of Angola's oil and gas production by 2027, with exploration and production activities expanding across both onshore and offshore assets. Onshore, the company recently signed a Risk Service Contract for Block KON 4 alongside Afentra, Grupo Simples Oil, Brite's Oil and Gas and Sodedurs, opening the way for exploration and redevelopment activities. Work is also progressing on operated Blocks KON 11, KON 12 and KON 15. Offshore, Sonangol continues strengthening partnerships with international operators to improve production from mature and frontier fields. The company recently signed Joint Operating Agreements and financing contracts for Blocks 49 and 50 with Chevron while advancing drilling programmes and enhanced recovery work at Blocks 3/05 and 3/05A.

Several major developments are also moving forward. The Greater PAJ Project, developed by Azule Energy, Equinor, Sonangol and SSI Thirty-One, recently reached a $5.1 billion Final Investment Decision (FID). The project combines resources from Blocks 31 and 31/21, with first oil expected in 2029. This follows the launch of the Agogo FPSO in 2025, the commissioning of Angola's first non-associated gas project by the New Gas Consortium and continued progress at the Kaminho project, where production is expected to begin in 2028.

Refining expansion and local industry remain priorities

Beyond upstream production, Sonangol is investing heavily in downstream infrastructure to reduce fuel imports and strengthen Angola's refining capacity. After commissioning the 30,000-barrel-per-day Cabinda Refinery in 2025, the company is seeking partners to close a $4.8 billion financing gap for the 200,000-barrel-per-day Lobito Refinery. The first phase of the refinery is expected to begin operations in 2027, with funding discussions continuing with Chinese lenders and regional financial partners.

The company is also expanding local content through its SonaJovem 5.0 programme, which supports entrepreneurship, skills development and business opportunities for Angolan companies involved in the oil and gas industry. By returning as a Diamond Sponsor at AOG 2026, Sonangol is signalling its intention to deepen cooperation with investors, technology providers and service companies while supporting Angola's long-term goals of increasing production, expanding refining capacity and creating greater value across the national energy sector.