Angola has witnessed an increase in mergers and acquisitions in recent months, with independent oil and gas companies strengthening their presence in the market. As the country prepares to launch its next licensing round in 2025 and continues to promote available acreage through its permanent offer regime, this positive dynamic is expected to continue. Key independent oil and gas companies have joined the Angola Oil & Gas (AOG) conference to discuss investment strategies and future projects.
John Hamilton, President of Panoro Energy, will speak at AOG 2025, which takes place on September 3 and 4. The company has recorded significant success in regional offshore markets, having presented steady production growth this year in Gabon, Equatorial Guinea, and Tunisia. In 2025, Panoro Energy also made an offshore oil discovery in the Dussafu block in Gabon. The well contains up to 25 million barrels of recoverable resources and is prepared to support future production growth at the site. Although the company is not yet present in Angola, the country offers Panoro Energy a wide variety of blocks and partnership opportunities, particularly in offshore areas, where the company has extensive experience.
Onshore, companies like ReconAfrica are betting on frontier discoveries. The company signed an agreement with Angola’s upstream regulator – the National Agency for Petroleum, Gas and Biofuels – in April 2025 to explore 5.2 million acres in the Etosha-Okavango basin. Marking ReconAfrica’s entry into Angola, the agreement lays the foundation for a series of exploration activities over the next 24 months. ReconAfrica is also exploring in Namibia, where it has a license covering 6.3 million acres. During AOG 2025, Brian Reinsborough, President of ReconAfrica, is expected to clarify the company’s ongoing exploration activities.
Robert Bose, President of Sintana Energy, and Scott Gilbert, President of Corcel, are also expected to share their vision on onshore exploration in Angola. With a majority stake in Block KON 16 – located in Angola’s onshore Kwanza basin – Corcel has been working to advance exploration in the block. The company signed two agreements to this effect in 2025, increasing its stake in KON 16 to 71.5%. The first agreement was signed with Intank Global DMCC for a 30% stake in the block. The second agreement was signed with Sintana Energy in May 2025 for an indirect 5% stake. The transaction aims to boost exploration activities in the block through the mobilization of additional capital for exploration activities planned for 2026. The companies also signed an agreement to evaluate and pursue other exploration and production opportunities in Angola. The partners committed to collaborate in identifying and analyzing new opportunities.
Meanwhile, George Toriola, Strategy Director of FIRST E&P, is also speaking at AOG 2025. Although the company is not yet active in Angola, FIRST E&P has proven experience in the sector through its strong portfolio of production assets in Nigeria. The company is exploring regional growth opportunities, seeking to leverage its experience in Nigeria’s onshore and shallow water blocks to unlock additional production opportunities across Sub-Saharan Africa. For Angola, which offers a wide variety of onshore and shallow water opportunities, this experience supports the country’s production objectives while simultaneously creating new opportunities for regional collaboration and trade.
