Luanda: Investments in concessions in Angola's oil sector have increased from eight billion US dollars to USD 14 billion per year, from 2019 to 2025, representing almost double the financial volume in the country. The information was disclosed in Luanda by the CEO of the National Agency for Petroleum, Gas and Biofuels (ANPG), Paulino Jer³nimo, during the celebrations of the institution's 7th anniversary celebrated on February 6.

According to Angola Press News Agency, Jer³nimo stated that the forecast for the next five years is to reach a total investment of over 70 billion US dollars annually. Despite the decline recorded in recent years, efforts are underway to replace about 140,000 to 150,000 barrels of oil per day. Jer³nimo recalled that reaching this milestone was easier in the early 2000s when Angola's daily production was nearly two million barrels per day. However, current discoveries are smaller, around 30,000 barrels per day, supplemented by production in mature fields, keeping production above one million barrels.

Since ANPG's inception, the sector has undergone structural transformations marked by new environmental demands and greater regulatory pressure. The agency aims to stabilize production above one million barrels per day by 2030 and develop biofuels as a concrete alternative for diversifying the energy matrix. Jer³nimo emphasized the importance of prioritizing local content to drive economic development and creating sustainable value, alongside strengthening social responsibility policies and valuing human capital.

ANPG was established in 2019 through Presidential Decree No. 49/19 to act as the National Concessionaire, regulating, supervising, and promoting exploration and production activities in the oil sector. Its creation aimed to restructure the sector by transferring concession functions previously held by Sonangol, thereby increasing efficiency, transparency, and private investment in oil, gas, and biofuel segments.