NJ Ayuk book spotlights Angola oil reforms and investment push

African Energy Chamber Executive Chairman NJ Ayuk has released a new book on Angola’s oil sector reforms, investment strategy and production outlook. The book examines how policy changes, licensing shifts and new projects are shaping the country’s push to stabilize output above 1 million barrels a day.

Why it matters: - Angola is trying to defend and grow one of Africa’s most important oil markets while production pressure, economic strain and structural bottlenecks continue. - The book frames Angola as a test case for how reform, licensing policy and capital allocation can support long-term upstream competitiveness. - The timing matters because Angola is still working to attract new investment while maintaining production stability above 1 million barrels per day.

What happened: - African Energy Chamber Executive Chairman NJ Ayuk released Crude Oil: Power, Turnaround and Transformation in Angola. - The book examines Angola’s oil sector reform agenda, investment strategy and the policy changes that have shaped the market. - The release is Ayuk’s latest book focused on African energy and investment. - Ayuk’s earlier titles include Big Barrels: African Oil and Gas and the Quest for Prosperity, Billions at Play: The Future of African Energy and Doing Deals and A Just Transition: Making Energy Poverty History with an Energy Mix.

The details: - The book traces Angola’s political evolution, structural reform and industry leadership and how those forces shaped the crude oil market. - The book includes perspectives from Mineral Resources, Oil & Gas Minister Diamantino Azevedo, Sonangol CEO Sebastião Gaspar Martins and ANPG President Paulino Jerónimo. - Angola established ANPG and launched a multi-year licensing strategy in 2019 to improve investor engagement, streamline procedures and support licensing activity. - From 2019 through 2025, Angola negotiated 64 blocks, awarded 37 and left 27 under approval or negotiation. - The next licensing round is expected this year. - Angola’s Permanent Offer Regime allows companies to access acreage outside traditional licensing rounds. - The Incremental Production Decree supports reinvestment in mature fields. - Fiscal adjustments and cooperation with Sonangol have helped drive new project activity. - TotalEnergies plans to invest $3 billion in Angola in the coming years. - Azule Energy plans to invest $5 billion. - ExxonMobil, Chevron and Equinor are expanding their portfolios in the country. - Independent companies including Afentra, Etu Energias, Corcel and ACREP are advancing onshore exploration. - Shell and Petrobras returned to Angola’s deepwater basins in 2025. - Oando entered Angola’s onshore market in 2026. - The Agogo Integrated West Hub is advancing after commissioning of the Agogo FPSO in 2025 and startup of the Ndungu field in 2026. - The Kaminho deepwater development is targeted for first production in 2028. - Begonia and CLOV Phase 3 together added 60,000 barrels per day to Angola’s production portfolio in 2025.

Between the lines: - The book’s main argument is that Angola’s upstream story is now being shaped as much by policy design as by geology. - The mix of international majors, independents and returning operators suggests the market still has room for capital even as the country manages declining production pressure. - Ayuk’s comments position reform as a broader national resilience story, not just an oil-industry story.

What's next: - Angola’s next licensing round is expected this year. - New investment commitments, field developments and licensing activity will determine whether the country can keep output stable above 1 million barrels per day. - Crude Oil: Power, Turnaround and Transformation in Angola is available in paperback and digital formats through major online retailers, including Amazon.

The bottom line: - Angola is using reform, licensing flexibility and fresh capital to try to reset its oil sector for the long term.