ANPG extends TotalEnergies production licence for Block 32 offshore Angola until 2043

Angola’s National Oil, Gas & Biofuels Agency (ANPG) has extended Total Energies’ (EPA/LSE/NYSE:TTE) production period for deepwater Block 32 until 2043. The agreement, signed on behalf of the contractor group, ensures the continued development of the block, the African Energy Chamber (AEC) said on May 11.

Block 32 is one of Angola’s largest oil-producing assets and has been in production since 2018. Spanning 5,340 square kilometres, it includes the Kaombo ultra-deepwater project, which connects six offshore fields to two floating production, storage and offloading vessels (FPSOs). Around 59 wells have been drilled, supported by more than 300 km of subsea pipelines, making it the country’s largest subsea network. Production from the block averages about 230,000 barrels per day (bpd), helping to maintain Angola’s overall oil output.

The licence extension to 2043 is part of Angola’s wider strategy to slow production decline at ageing fields and attract fresh investment. For Total Energies, the deal strengthens its position as one of most important upstream investors in Angola, where the company already accounts for roughly 28% of national oil production.

The AEC described the agreement as a significant milestone for Angola’s long-term production strategy.

“In addition to extending the licence, the agreement outlines the possibility of applying the Incremental Production Initiative – launched in 2024 – to bolster output,” the Chamber said in the statement. “As such, the deal reinforces the country’s position as a stable and increasingly competitive upstream market while demonstrating the effectiveness of policy reforms designed to encourage reinvestment in mature producing acreage.”

In Angola, TotalEnergies continues to expand its presence, engaging in both legacy oilfield development and new offshore opportunities. Beyond Block 32, the French energy giant is advancing several major strategic projects, including the $6bn Kaminho deepwater development in the Kwanza Basin, the first large offshore project of its kind in the area. The company is also investing in offshore production optimisation and emission-reduction technologies. Its continued activity is seen as a sign of confidence in Angola’s oil sector and its investment climate.

The Block 32 extension also underlines the importance of Angola’s Incremental Production Initiative, which offers better fiscal terms for additional developments in existing fields, helping operators increase recovery rates and extend the life of mature assets. According to AEC’s executive chairman NJ Ayuk, the agreement on Block 32 shows that Angola’s policy reforms are working.

“Major global operators do not commit to multi-decade developments without confidence in the regulatory environment, the resource base and the long-term stability of the market,” Ayuk sated. “Angola has created a framework that encourages reinvestment, supports mature asset optimisation and gives international investors confidence to continue deploying capital at scale.”

Deepwater Block 32 offshore Angola is operated by TotalEnergies, which holds a 30% stake and leads development of the Kaombo project, one of the country’s largest offshore oil hubs. The block’s other partners are Angola’s state oil company Sonangol E&P with 30%, China’s energy giant SINOPEC (SHA:600028, HKEX:0386) with 20%, US oil and gas major ExxonMobil (NYSE:XOM) with 15%, and Angolan independent oil company Etu Energias with 5%.