In a strategic move to cement Angola’s role as a long-term oil powerhouse, ExxonMobil and a consortium of global energy giants have renewed their production-sharing contract (PSC) for Block 17, ensuring the continued flow of vital oil output from one of the country’s most prolific offshore blocks.

Led by operator TotalEnergies, alongside Equinor, Azule Energy, and national oil company Sonangol, the renewed agreement marks a significant vote of confidence in Angola’s upstream sector. The extension, signed during a high-level ceremony on Wednesday, paves the way for further investment in mature fields and supports Angola’s efforts to sustain oil production above the 1 million barrels per day (bpd) threshold.

For over two decades, Block 17 has stood at the heart of Angola’s hydrocarbon economy, producing from deepwater projects such as Girassol, Dalia, CLOV, and Pazflor. The renewed PSC allows partners to leverage existing infrastructure, optimise costs, and apply enhanced oil recovery techniques to extract maximum value from aging fields.

Crucially, the move reflects Angola’s broader strategy to remain competitive in Africa’s evolving energy landscape while maintaining investor confidence. The government’s openness to long-term partnerships sends a clear message: Angola is not only committed to current production, but also to future-proofing its energy sector.

In tandem with the Block 17 renewal, ExxonMobil is intensifying exploration in the Namibe Basin, targeting untapped reserves in Blocks 30, 44, and 45. These frontier zones are expected to play a key role in diversifying and expanding Angola’s upstream portfolio.

As global energy dynamics shift, Angola is making clear its intention to remain a reliable oil exporter, one that welcomes innovation, investment, and strategic alliances for decades to come.