NJ Ayuk book examines Angola’s oil reforms and investment push

NJ Ayuk’s new book, Crude Oil: Power, Turnaround and Transformation in Angola, looks at how policy reform, licensing changes and new investment are reshaping Angola’s oil sector. The release frames Angola as a test case for how government action and capital can support production stability and long-term competitiveness.

Why it matters: - Angola is trying to stabilize oil output above one million barrels per day while facing production decline, economic pressure and structural constraints. - The book argues that policy reform and investment strategy have become central to Angola’s ability to compete in global oil markets. - The release positions Angola as a case study for how a producer can use regulation, licensing and partnerships to extend field life and attract capital.

What happened: - African Energy Chamber Executive Chairman NJ Ayuk released Crude Oil: Power, Turnaround and Transformation in Angola. - The book examines Angola’s oil and gas sector, the policy changes that shaped it and the leadership decisions behind its development. - The release says the book is now available in paperback and digital formats through major online retailers, including Amazon. - Ayuk said the book focuses on reform, resilience and the leadership choices that shaped Angola’s oil sector.

The details: - The book combines political history, industry analysis and stakeholder perspectives. - It includes input from Angola’s Minister of Mineral Resources, Oil & Gas Diamantino Azevedo, Sonangol CEO Sebastião Gaspar Martins and ANPG President Paulino Jerónimo. - Angola created ANPG and launched a multi-year licensing strategy in 2019 to improve investor engagement, streamline procedures and support licensing activity. - From 2019 to 2025, Angola negotiated 64 blocks, awarded 37 and kept 27 under approval or negotiation. - The next licensing round is expected this year. - The book says the Permanent Offer Regime has given companies access to acreage outside traditional licensing rounds. - The Incremental Production Decree has supported reinvestment in mature fields. - Fiscal adjustments and cooperation with Sonangol are also cited as factors behind new project activity. - TotalEnergies has committed $3 billion to the market in the coming years. - Azule Energy plans to invest $5 billion. - ExxonMobil, Chevron and Equinor are expanding their portfolios in Angola. - Independent onshore operators Afentra, Etu Energias, Corcel and ACREP are advancing exploration activities. - Shell and Petrobras returned to Angola’s deepwater basins in 2025. - Oando entered Angola’s onshore market in 2026. - The book highlights the Agogo Integrated West Hub after commissioning of the Agogo FPSO in 2025 and the startup of the Ndungu field in 2026. - The Kaminho deepwater development is targeted for first production in 2028. - The Begonia and CLOV Phase 3 projects added a combined 60,000 barrels per day to Angola’s production portfolio in 2025.

Between the lines: - The release suggests Angola’s reform push is designed to offset declines in legacy production by widening access for investors and speeding up approvals. - The mix of international majors, independent operators and returning companies points to a broader effort to diversify capital sources and reduce reliance on a single class of investor. - The book also reflects a wider theme in African energy policy: upstream growth often depends as much on regulatory design as on geology.

What's next: - Angola’s next licensing round is expected this year, which could provide another test of investor appetite. - New project milestones at Agogo, Ndungu and Kaminho will help show whether reform momentum translates into sustained output gains. - The release implies Angola will keep using policy tools, fiscal changes and field redevelopment to support production stability.