Angola Invests U.S.$99 Billion in Oil Production Over Nine Years

Luanda — Investment in Angola’s oil sector over the past nine years amounted to approximately USD 99 billion, Minister of State for Economic Coordination José de Lima Massano said on Wednesday in Luanda.

Speaking at the opening of the 7th Angola Oil & Gas (AOG 2026) International Conference and Exhibition, the government official stated that during the period under review, 38 exploration wells were drilled, resulting in 16 discoveries.

He also reported the negotiation of 72 new concessions, of…