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Sonangol at 50: African Energy Week to Map the Next Era of Angola’s National Champion
Fifty years after its creation in 1976, Angola’s national oil company (NOC) Sonangol continues to strengthen its capacity as a leading Angolan operator with projects spanning frontier exploration across off- and onshore margins, brownfield redevelopments in shallow waters and downstream expansion. As the NOC looks towards its next 50 years of growth, Sonangol will mark its golden anniversary at the African Energy Week (AEW) 2026 Conference and Exhibition with a dedicated program examining how the company plans to turn five decades of experience into its next era of production and investment growth.
Taking place during AEW 2026, Investing in the Future with Sonangol @50 will trace the company’s transformation from national champion to an increasingly diversified and operationally focused oil and gas company. A presentation on From National Champion to the Next Generation Energy Company will kickstart the program, followed by a fireside chat, The Next 50 Years: Sonangol’s Vision for Growth and Transformation, and panel discussion on Upstream Partnerships – Investing Together to Sustain Angola’s Production.
A fireside chat on Beyond the Barrel: Building an Integrated Sonangol, will focus on the NOC’s ambitions across refining, fuels, gas and infrastructure, while a panel discussion on Partners for the Future: What Will the Sonangol Partnership of the Next 50 Years Look Like, will explore what capital, technology, local capacity and business models will look like in the coming decades.
“Sonangol has the assets, experience and ambition, but its next 50 years will also be built through partnerships. Cape Town gives global investors, operators, technology companies and financiers a direct opportunity to sit with Sonangol and identify where they can participate in that growth,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
Sonangol enters its 50th year with exploration and production at the center of its strategy. Following its evolution from regulator into a competitive operator in 2019, the company has been at the forefront of Angola’s hydrocarbon expansion, aimed at sustaining crude production above one million barrels per day (bpd) while bolstering non-associated gas production. The company’s multi-faceted portfolio reflects this commitment.
On the exploration front, Sonangol is proving it is more than a passive participant in oilfield operations. The company’s recent discovery at the Katambi-2 offshore appraisal well in Block 24 showcased the potential for more than 100 million standard cubic feet per day (mmscf/d) of gas production, opening a new production province in the Benguela Basin. The discovery marked Angola’s first full flow test in a non-associated gas reservoir.
This followed the announcement of successful drilling activities at the PAC 416 well, situated in the Pacassa field in Block 3/05. Sonangol is leading a redevelopment campaign at the block, aimed at strengthening production capacity and extending the life of the asset. The company plans to drill the Implala-2 development well in the coming months.
Onshore, Sonangol is leading exploration in both the Kwanza and Lower Congo Basins. The company operates Blocks KON 11, 12 and 15 and holds interests in several other assets. Supporting its exploration campaigns, Sonangol secured a $2.65 billion financing package in June 2026. Arranged by a syndicate of international lenders, the funding will cover operational expenditures and capital investments as Sonangol moves to address Angolan production decline.
Beyond exploration, the NOC is at the center of Angola’s next generation of large-scale developments through its partnerships with international oil companies. These include the Greater PAJ project, Angola’s first integrated development spanning two blocks, and the Kaminho Development, the first large-scale development in the deepwater Kwanza Basin. Greater PAJ reached $5.1 billion FID in 2026, with production expected to start in 2029. Kaminho, meanwhile, is targeting a 2028 start following $6 billion FID reached in 2024.
Sonangol is also leading Angola’s downstream expansion through the development of the 200,000-bpd Lobito Refinery and the 2026 commissioning of the first phase of the Cabinda Refinery. Lobito targets a 2027 start while the Cabinda facility is advancing its second phase, aimed at doubling output to 60,000 bpd.
As Sonangol advances its evolution into an integrated oil and gas company, AEW 2026 will move that conversation from ambition to opportunity. For international operators, investors, financiers and service companies, the session offers a direct window into where Sonangol intends to deploy capital, expand production, secure expertise and forge the partnerships that will define its next 50 years.