News Digest (www.upstreamonline.com)
ExxonMobil and TotalEnergies have progressed towards securing frontier exploration acreage in the under-explored Benguela and Namibe basins offshore Angola. This move shifts focus from the country's established Congo basin and the developing Kwanza basin.
Strategic Agreement for New Exploration
Angola's upstream regulator, ANPG, has signed an "agreement of principles" with the two supermajors concerning blocks 40, 41, 42, and 58. This agreement establishes the foundational basis for the future conclusion of formal contracts for these blocks.
Government Strategy and Support
ANPG chairman Paulino Jeronimo stated the signing aligns with the national strategy to discover new oil and gas resources. He emphasized the government's commitment to retaining major international companies like ExxonMobil and TotalEnergies in Angola's upstream sector.
16 March 2026
This material is an AI-assisted summary based on publicly available sources and may contain inaccuracies. For the original and full details, please refer to the source link. Based on materials by Iain Esau. All rights to the original text and images remain with their respective rights holders.
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