Minister Diamantino Azevedo Awarded Medal for Peace and Energy Leadership as Angola Charts Bold Energy Future
As an advocate for enabling African energy success through policy reform, infrastructure reform and global investment, the AEC applauds Minister Azevedo for his bold agenda to transform Angola into a regional petroleum hub. Under his guidance, the country has rolled out game-changing initiatives including a $60 billion upstream investment drive, a multi-phase refinery rollout, licensing reforms and development of an upcoming Gas Master Plan (GMP).
Minister Azevedo's leadership has ushered in a 2025-2028 project pipeline that is expected to significantly boost production and catalyze cross-sector development. Key initiatives include the Cabinda Refinery – set to start operations in 2025 with a capacity of 60,000 barrels per day – as well as the Agogo Integrated West Hub Development and Kaminho Deepwater Project, both on track for 2026 and 2028, respectively. Angola is also advancing its first-ever non-associated gas project through the New Gas Consortium, expected to launch in 2026. At the same time, frontier exploration will begin in the Etosha-Okavango basin, while independent oil companies target new opportunities in the onshore Kwanza basin.
These developments are supported by a new licensing round in 2025, which will offer 10 offshore blocks in the Kwanza and Benguela basins, highlighting Angola's drive to open new acreage and attract further investment.
Since Angola launched its six-year licensing round in 2019, the country has awarded 41 concessions to a mix of international and regional companies. At the same time, new opportunities in marginal fields have opened doors for smaller independent operators to enter the market. Currently, five marginal fields are available, with prospects in Blocks 4, 14, 15 and 18. To further boost investment, the government introduced a permanent offer program and launched the Incremental Production Initiative in 2024 – designed to encourage reinvestment in mature fields. The initiative is already showing results, with energy major ExxonMobil announcing a new discovery at the Likembe-01 well, the first under the program.
As the country works to diversify its energy mix, the AEC strongly supports the forthcoming launch of Angola's GMP, a 30-year strategy that aims to create a competitive domestic gas market. the GMP is expected to provide clear policy direction for investors while linking upstream projects to local value chains. Meanwhile, Minister Azevedo is also leading the push to extend Angola's licensing strategy beyond 2026, offering new opportunities for both frontier and onshore developments.
As Angola hosts the Angola Oil&Gas 2025 conference in Luanda this September, Minister Azevedo will deliver a keynote address and participate in a high-level Fireside Chat – outlining the government's vision for transforming Angola into a globally competitive energy economy. Taking place on the eve of the country's golden jubilee, the event will explore the role oil and gas has played over the past five decades, while charting a future defined by policy certainty, youth- and women-led innovation, infrastructure growth and regional integration.
'Minister Azevedo has consistently demonstrated that energy development is a pathway to peace, progress and shared prosperity. The Chamber sees the medal not only as a personal honor, but as a symbol of what energy leadership can accomplish when tied to national development. We congratulate Minister Azevedo on this well-deserved recognition and remain committed to working alongside Angola to build the next 50 years of hydrocarbon success,' states NJ Ayuk, Executive Chairman, AEC.
Distributed by APO Group on behalf of African Energy Chamber.
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