今年的安哥拉石油天然气 (AOG) 大会将于9月3日至4日在罗安达举行，届时将举办一系列高层小组讨论，旨在制定提升油气产量和调动上游项目投资的战略。安哥拉的目标是实现44.5万桶/日的炼油产能，为2025年的许可证发放做好准备，并推动前沿盆地的勘探开发，AOG 2025 将成为推动新交易和合作的重要平台。

其中一个特色会议——“部长级小组：通过投资友好型改革提高产量”——将重点介绍支持产量增长的监管策略。该小组还将深入探讨安哥拉深水、浅水和陆上盆地即将到来的区块开发机会。作为撒哈拉以南非洲第二大石油生产国，安哥拉正努力在2027年之后将原油产量维持在100万桶/日以上。为了实现这一目标，政府正在推行改革以吸引新的投资，并更新政策以激励成熟油田和前沿油田的活动。

为了刺激对成熟资产的再投资，安哥拉于2024年启动了“增量生产计划”，为运营商提供更优惠的财政条件，旨在最大限度地提高在产油田的产量。该计划已取得成效：能源巨头埃克森美孚于2024年在Likember-01油田发现了新的油气资源。位于现有生产区块内的边际油田的勘探机会也正在推广中，为独立和小型运营商提供了切入点。部长级小组将审查这些改革对安哥拉当前生产格局的影响及其在提高老化油田产量方面的作用。

除了增量生产外，安哥拉还通过灵活的投资结构积极推动前沿勘探。除了正在进行的多年期许可证轮次之外，还有多个区块勘探机会可通过直接谈判获得，为投资者提供传统招标轮次以外的替代方案。这些方案旨在吸引投资者对埃托沙-奥卡万戈盆地等高潜力地区的兴趣，该盆地是横跨安哥拉南部和纳米比亚北部的陆上盆地。2025年4月，加拿大能源公司ReconAfrica与安哥拉上游监管机构——国家石油、天然气和生物燃料局（ANPG）签署了一项协议，将在该盆地勘探520万英亩土地。该公司将在未来24个月内开展油气渗漏分析、二维地震勘探和区域地质研究。此前，ANPG与越南XTG已签署了类似的协议，将在同一个盆地进行联合研究和勘探。部长级小组将讨论安哥拉的前沿机遇，包括潜在的勘探发现和跨境合作。

另一个重要会议主题为“从开采到扩张：安哥拉石油和天然气开发融资”，将探讨安哥拉如何利用多边贷款机构、开发金融机构和私募股权来推进其能源项目。随着上游资本支出在全球范围内的竞争力日益增强，安哥拉正在转向创新融资模式。混合融资和开发融资正发挥着日益重要的作用，一些具有里程碑意义的项目已经从此类框架中受益。

例如，预计于2025年投产的卡宾达炼油厂就得到了由非洲金融公司、非洲进出口银行以及一个由本地和国际贷款机构组成的财团牵头的融资方案的支持。其余1.38亿美元则通过股权融资获得。安哥拉首个非伴生气项目由新天然气财团开发，采用项目融资和供应商融资相结合的混合结构，有效地平衡了风险和回报。

通过采用新的融资模式，安哥拉正在扩大其投资者基础，并重塑石油和天然气项目的开发方式。AOG 2025 的融资会议将为投资者提供与安哥拉机遇的对接，促进合作，以实现该国的能源发展目标。

This year’s Angola Oil & Gas (AOG) conference, taking place September 3-4 in Luanda, will host a series of high-level panel discussions aimed at identifying strategies to boost oil and gas production and mobilize investment for upstream projects. As Angola targets 445,000 barrels per day (bpd) of refining capacity, prepares for its 2025 licensing round and promotes exploration in frontier basins, AOG 2025 will serve as a key platform for driving new deals and partnerships.

One of the featured sessions – the “Ministerial Panel: Increased Production Through Investment-Friendly Reforms” – will highlight the regulatory strategies supporting production growth. The panel will provide insight into upcoming block opportunities across Angola’s deepwater, shallow water and onshore basins. As sub-Saharan Africa’s second-largest oil producer, Angola is working to sustain crude production above one million bpd beyond 2027. To meet this target, the government is introducing reforms to attract new investment, with policy updates designed to incentivize activity in both mature and frontier blocks.

To stimulate reinvestment in mature assets, Angola launched its Incremental Production Initiative in 2024, introducing improved fiscal terms for operators aiming to maximize output from producing fields. The initiative has already delivered results: energy major ExxonMobil made a discovery at the Likember-01 field in 2024. Opportunities in marginal fields – located within existing producing blocks – are also being promoted, presenting entry points for independent and smaller operators. The Ministerial Panel will examine the impact of these reforms on Angola’s current production landscape and their role in enhancing output from aging fields.

In addition to incremental production, Angola is actively promoting frontier exploration through flexible investment structures. Beyond the ongoing multi-year licensing round, several block opportunities are available via direct negotiation, offering investors alternatives to conventional bid rounds. These structures aim to attract interest in high-potential areas such as the Etosha-Okavango Basin – an onshore basin spanning southern Angola and northern Namibia. In April 2025, Canadian energy company ReconAfrica signed an agreement with Angola’s upstream regulator, the National Oil, Gas & Biofuels Agency (ANPG), to explore 5.2 million acres in the basin. The company will carry out oil and gas seep analysis, a 2D seismic survey and regional geological studies over the next 24 months. This deal follows a similar agreement between ANPG and Vietnam’s XTG for joint research and exploration in the same basin. The Ministerial Panel will address Angola’s frontier opportunities, including potential play-opening discoveries and cross-border collaboration.

Another key session, “From Extraction to Expansion: Financing Angola’s Oil & Gas Development,” will explore how Angola is leveraging multilateral lenders, development finance institutions and private equity to advance its energy projects. With upstream capital expenditure becoming more competitive globally, Angola is turning to innovative financing models. Blended finance and development finance are playing an increasingly central role, with several landmark projects already benefiting from such frameworks.

For example, the Cabinda Refinery, expected online in 2025, is supported by a financing package led by the Africa Finance Corporation, African Export-Import Bank and a consortium of local and international lenders. The remaining $138 million was secured through equity. Angola’s first non-associated gas project – developed by the New Gas Consortium – employs a hybrid structure combining project and vendor financing, effectively balancing risk and return.

By embracing new financing models, Angola is broadening its investor base and reshaping how oil and gas projects are developed. The financing session at AOG 2025 will connect investors with Angolan opportunities, fostering collaboration to meet the country’s energy development goals.