ANGOLA’S ONSHORE OIL RUSH: GLOBAL PLAYERS SCRAMBLE FOR KWANZA BASIN TREASURES
In a dramatic surge of investment activity, Angola’s onshore Kwanza Basin has captured global attention as exploration firms race to secure their positions in what industry experts call Africa’s most promising untapped oil region.
Following January’s bid round closure, Angola’s upstream regulator, the National Agency for Oil, Gas and Biofuels (ANPG), has received proposals from three international firms—ACE Energy and Power Consultants, Walcot Group, and Prime Africa Trade—seeking operatorship of nine blocks. These proposals signal strong operator commitment and highlight the exceptional potential of Angola’s onshore Kwanza Basin.
The investment rush intensified in May 2025 when exploration company Corcel signed two agreements accelerating development of Block KON 16, bringing its ownership stake to 71.5%. The deals include a $500,000 agreement with energy company Inktank Global DMCC for an additional 30% gross interest and a farm-in with Sintana Energy for a 5% stake in exchange for $2.5 million—marking Sintana Energy’s entry into Angola.
Meanwhile, Nigerian conglomerate Walcot Group secured a production sharing contract with the ANPG in April 2025 for three onshore oil blocks, including a 10% stake in Block KON 13, operated by Nigerian oil firm Oando Energy Resources following its market entry in February 2025.
Ambitious seismic campaigns are underway across multiple blocks. Corcel, in collaboration with Angola’s national oil company Sonangol, has restarted intervention activities at Tobias-13 and Tobias-14 wells in Block KON 11, targeting pre-salt and post-salt leads. Supporting these efforts, a consortium including Striped-Horse and Metatek collected and processed gravimetric and magnometric data for KON 11, KON 12, and KON 15, with preliminary results expected this year.
Spanning 25,000 km² and divided into 23 blocks, the onshore Kwanza Basin has a history of successful oil production that waned in the late 1990s as focus shifted to deepwater development. Recent ANPG initiatives to revitalize the market are already reversing this trend, with substantial leads and a proven petroleum system attracting exploration companies. While existing wells targeted post-salt plays, pre-salt formations across the basin show promising oil potential. Companies like TGS are reprocessing their Kwanza Basin datasets to support future exploration.
Source: energycapitalpower.com