Reflections from Angola’s Growth Story Panel - Momentum, Gas & What Really Changes Outcomes
This week in Luanda, Frontier hosted the Global Upstream Leaders Forum bringing the industry together in the beautiful and vibrant city of Luanda. I moderated an operationally grounded, refreshingly honest conversation on Angola’s growth story - and what, in practice, is actually driving new deals, new activity, and renewed confidence. It was a real privilege to moderate the country-specific panel that brought together the operator lens, the indigenous company growth story, and the technology/data perspective - all in the warmth of ANPG Angola's trademark openness to listen and engage.
What stayed with me most was the balance: genuine optimism (because momentum is real), paired with practical, specific examples of what needs to improve if Angola is to keep investment flowing and accelerate delivery. Below are my key reflections - shared in the spirit of keeping our network informed and connected to what’s happening on the ground.
The Momentum is Real - and It’s Measurable
We spoke a lot about “momentum,” but what I appreciated is that the panel anchored it in tangible proof points: new projects coming online, redevelopment programmes delivering material barrels, and a clear sense that reforms have moved beyond policy into execution.
One operator described a new project reaching first oil in December - not just as a technical milestone, but as a symbol of what’s possible when fiscal terms, infrastructure tie-backs, and smart engineering combine to unlock marginal resources. And importantly: the pride wasn’t only in the barrel - it was in how it happened, including meaningful local fabrication and Angolan capability being deployed at scale.
Another message landed strongly: confidence doesn’t come from presentations - it comes from trust and relationships - all which felt tangible in the room. These are multi-billion-dollar, long-cycle investments. When investors believe the rules are stable and the regulator will work with them pragmatically, capital moves.
Fiscal Pragmatism is Doing What It’s Meant to Do
A consistent thread was that improved fiscal terms and incremental production legislation are not abstract “policy wins” - they are directly enabling projects that would otherwise never compete for capital.
And I heard something I’ve rarely heard so directly, so plainly: “If you have an opportunity at the margin that you’re going to walk away from, come talk to us.” That kind of invitation - from regulator to investor - is unusual globally. It builds trust fast, and it changes the way companies think about staying power, redevelopment, and long-term commitment.
Gas is No Longer “The Future” - It’s an Operational and Commercial Necessity
The gas conversation felt like it has shifted a gear. Not aspirational. Not “one day.” More like: this is now a strategic pillar - for exports, for domestic industry, and for energy access.
From one operator perspective, the story is evolving quickly: LNG infrastructure, growing feedstock, and a clear focus on unlocking non-associated gas through partnerships and consortia. I also found it striking how quickly “gas strategy” is becoming a core priority - including for companies historically focused on oil.
From the indigenous company lens, the most powerful insight was simple: the domestic market is visibly there. Gas can cut operating costs dramatically for mines that currently rely on diesel. It can reduce pressure on communities that still depend on biomass for cooking. It can change what’s possible for industry - and for daily life. For me, that is where upstream strategy becomes national development in the most practical sense.
And one voice put it perfectly: gas should not be discussed as a distant horizon. It needs to be treated as an immediate operational and commercial priority.
Technology & AI: Better Data, Faster Decisions, Smarter Spend
The tech discussion was one of the most grounded I’ve heard in a while — not “AI buzz,” but real examples of how technology is reducing cycle time, lowering cost, and improving decision quality.
A point I took away: better data is the starting point for everything. Higher quality imaging, modern reprocessing, and new workflows are materially changing how basins are evaluated - especially in complex geology.
This isn’t just about “looking nice on a screen.” It’s about improving odds, tightening risk, and getting to the first well faster.
AI also came through strongly as the next acceleration or competitiveness lever - not only for new data, but for unlocking value from decades of historic datasets (including paper archives and legacy materials that are hard to use today). The combination of high-performance computing, AI and a stable regulatory environment is becoming a genuine advantage for Angola.
And I loved the realism from the independent operator perspective: technology must be fit-for-purpose. For smaller players, every dollar matters - and smart tools can help prioritise spend and focus scarce capital where it counts.
Operating in Angola: The Praise is Real - and So Are the Bottlenecks
What made this panel strong was the willingness to talk about operating reality - and to do it constructively.
The positives were clear:
An open-door regulator mindset
A roadmap approach that helps the wider ecosystem plan and invest
Communication improving across the value chain
Growing competition in the services market, which can support cost reduction over time
But we also heard practical friction points that matter if Angola wants to keep accelerating:
Collaboration between operators can still be harder than it should be (even for basic equipment sharing)
Legal/contracting frameworks don’t always enable the “shared solutions” mindset the industry increasingly needs
Clarity across institutions - who to call for what, where decisions sit, how different entities align - can still improve
Cost control remains central, particularly for smaller operators, and sharing vessels/equipment could be a meaningful lever if enabled properly
What I took from this: Angola has moved into the delivery phase - and the next edge will come from execution predictability, practical collaboration mechanisms, and continued fiscal stability.
We are all watching, as much is at stake for this great nation, and the world.
Ten Years from Now: A Big, Confident Vision - with Energy Poverty Front and Centre
I asked each panellist to look forward ten years in Angola. The tone was optimistic - and not vague optimism, but anchored in clear ambition of sustained production, deeper value creation for Angola, stronger local companies, and a growing gas share in the national energy mix.
Two sentiments stayed with me most:
Angola becoming a true hub for innovation and technology deployment - a place where new tools are tested, adopted, and scaled.
A future where gas helps tackle energy poverty in a practical way - so children can study at night, communities don’t rely on flammable fuels, and industry can grow with reliable power.
That second point is personal for me. My long-term vision for Angola - and for Africa more broadly - is simple: not one home without light. Because without energy access, everything else is harder.
A heartfelt thank you to our Sponsors & Partners and to everyone who contributed to such an honest, solutions-oriented discussion - and to ANPG Angola for hosting with the spirit of openness that we and the industry appreciate. Angola's hospitality and warmth was second to none. Thank you all for having us. And I am glad the door was opened for us on our departure. Someone told me that in Angolan culture this means we are welcome to return to the home. We will be back!
Our next GULF Series is in London on the 18th March. Open to Members and invited guests, I look forward to another high impact session.
Find out more here https://www.frontierenergy.network/globalupstreamleaders
