Equinor Commends Angola’s Incremental Production Decree as a Landmark Reform
Norwegian multinational energy firm Equinor has praised Angola’s recent Incremental Production Decree as a significant reform that enhances the country’s ability to attract oil and gas investments, drive production, and stimulate economic growth. The African Energy Chamber (AEC), representing the voice of the African energy sector, fully supports Equinor’s endorsement of Angola’s well-structured oil and gas reforms as a powerful model for attracting investment and boosting hydrocarbon development across the continent.
Angola’s Incremental Production Decree, enacted in November 2024, introduces progressive fiscal terms designed to attract investment and increase oil and gas production. The decree aims to improve the commercial viability of developing fields in mature blocks, underexplored areas, and stranded resources, while also encouraging exploration near existing infrastructure. By facilitating enhanced recovery from producing fields and extending the lifespan of critical infrastructure, the decree is projected to attract billions in offshore investments, create jobs, and spur economic growth, reinforcing Angola’s position as a leading oil and gas producer.
Nina Koch, Senior Vice President in Africa for Equinor, emphasized the decree’s potential to boost investment and production in Angola by enhancing the commerciality of developing fields in mature blocks and underexplored areas. Koch highlighted the decree’s role in unlocking stranded resources, promoting exploration near existing infrastructure, and improving recovery from producing fields, essential steps to counteract declining production levels.
Building upon previous initiatives to revitalize its oil and gas sector, Angola has implemented a series of bold measures, including regulatory simplifications, enhanced licensing rounds, and fiscal adjustments to create a more competitive and investor-friendly business environment. Koch noted that these reforms strengthen the business case for Equinor’s projects in Angola, including opportunities for infrastructure lifetime extension in partnerships, potentially attracting billions of dollars in investments, creating jobs, and generating revenues to benefit Angola’s economy and society.
Equinor’s support for the Incremental Production Decree aligns with broader strategies to extend asset lifecycles and maximize value. Koch emphasized the decree’s potential to catalyze Equinor’s strategy to prolong production longevity outside Norway, ensuring value for partnerships and Angolan society for decades to come.
NJ Ayuk, Executive Chairman of the AEC, commended the Angolan government for taking this step and highlighted Equinor’s recognition of these reforms as evidence of Angola’s leadership in adapting to industry demands. Ayuk believes Angola’s efforts serve as a compelling case study for other African nations seeking to attract investment and promote sustainable energy development.
The AEC remains dedicated to supporting initiatives that unlock Africa’s energy resources’ full potential. Angola’s success demonstrates the transformative impact of proactive governance, innovative fiscal policies, and collaboration between governments and industry leaders.
This article was distributed by APO Group on behalf of the African Energy Chamber.
