French energy major TotalEnergies has announced a new oil discovery in offshore Angola alongside the acquisition of a 40% operated interest in two additional exploration blocks. The development reinforces the company’s position as the leading foreign operator in one of Africa’s most prolific oil-producing nations, as Luanda seeks to stabilise its national output through aggressive deepwater exploration.
The new discovery was made in Block 17/06, where the Tambarino-1 exploration well successfully encountered oil-bearing reservoirs. According to the company, the find is currently being evaluated for its commercial potential and its ability to be tied back to existing infrastructure. This “hub-and-spoke” strategy allows for more cost-effective production by utilising the floating production storage and offloading (FPSO) vessels already operating in the vicinity.
Simultaneously, TotalEnergies signed agreements with the National Agency for Oil, Gas and Biofuels (ANPG) to enter Blocks 16 and 48. Under the terms of the deal, TotalEnergies will hold a 40% interest and assume the role of operator in both licences. The remaining stakes are distributed among partners including Petronas and the Angolan state-owned oil firm, Sonangol. These blocks are located in the Lower Congo and Kwanza basins, areas that have recently seen renewed interest from international oil companies (IOCs) due to revised fiscal terms and improved regulatory clarity.
The company stated that these latest moves are aligned with its strategy of focusing on low-cost, low-emission assets. By targeting blocks with high resource potential that can be developed using modern subsea technology, the French major intends to maintain high margins even in a volatile global price environment. This expansion follows the successful commencement of production at several satellite fields in recent years, which have helped offset the natural decline of older Angolan wells.
Angola Regulatory Stability Drives Deepwater Investment
The acceleration of TotalEnergies’ activities in Angola comes as the country focuses on maintaining production levels above 1.1 million barrels per day. Since Angola’s exit from the Organization of the Petroleum Exporting Countries (OPEC) in early 2024, the government has moved to establish its own production quotas and investment timelines, free from the constraints of the Vienna-based cartel. This independence has been coupled with a series of reforms spearheaded by the ANPG to shorten the time between discovery and first oil.
Investment in the Angolan energy sector has also been bolstered by the government’s efforts to reduce bureaucratic hurdles. The “General Strategy for the Attribution of Petroleum Concessions” has provided a clear roadmap for licensing rounds through 2025, allowing majors like TotalEnergies and Chevron to plan long-term capital expenditure. For TotalEnergies, this has translated into a multi-billion dollar commitment to projects such as the Kaminho Deepwater project in Block 20/21, which reached a Final Investment Decision (FID) in May 2024.
Market analysts suggest that the acquisition of stakes in Blocks 16 and 48 is a defensive and offensive move. It secures future reserves in a geography where the company already possesses significant logistics and technical expertise. Furthermore, the Kwanza Basin, where Block 48 is located, is considered one of the final frontiers for major sub-salt discoveries in West Africa, drawing comparisons to the pre-salt successes found in Brazil’s offshore basins.
The economic implications for Angola are substantial. The oil and gas sector continues to account for over 90% of the country’s export earnings and a significant portion of its gross domestic product (GDP). Continued exploration success by TotalEnergies and its partners provides the Angolan treasury with a degree of fiscal predictability, which is essential for managing national debt and funding infrastructure development projects across the country.
However, the transition to deeper waters also presents technical and environmental challenges. TotalEnergies has committed to employing carbon reduction technologies in its Angolan operations, including the elimination of routine flaring and the integration of renewable energy sources to power offshore facilities where feasible. These measures are increasingly important as global investors demand stricter adherence to Environmental, Social, and Governance (ESG) standards.
Looking ahead, the partnership will focus on a 3D seismic acquisition programme for Blocks 16 and 48, which is expected to begin in the first half of 2027. The results of this survey will determine the locations for the first phase of exploration drilling. Meanwhile, the Tambarino-1 discovery in Block 17/06 will undergo a series of flow tests to confirm the reservoir’s connectivity and long-term viability before a formal development plan is submitted to the Angolan Ministry of Mineral Resources, Oil and Gas.
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