Production Data & Market Analysis
~1.1M BPD · 10% Decline Rate · Deepwater Dominant · Post-OPECAngola Production Overview
Angola produces approximately 1.1 million barrels per day, making it Africa's second-largest oil producer after Nigeria. Production is overwhelmingly from deepwater offshore fields in the Lower Congo Basin, with output declining from a peak of approximately 1.8 million bpd in 2008-2009. The country exited OPEC in January 2024, freeing it from production quotas and enabling a strategy focused on maximizing output through new developments like the Kaminho project.
The fundamental challenge is natural field decline — approximately 10% per year from mature deepwater assets. Without continuous investment in new projects and field extensions, Angola's production would fall below 1 million bpd within a few years. The government's target is maintaining 1.1 million bpd through 2027 and increasing to 2 million bpd longer-term — an ambitious goal requiring sustained investment across multiple basins and blocks.
Kaminho's Market Impact
The Kaminho project's 70,000 bpd represents approximately 6-7% of Angola's current total production — a significant contribution to offsetting natural decline. As the first development in the Kwanza Basin, Kaminho also opens a new production source that complements the mature Lower Congo Basin, diversifying Angola's production base geographically and geologically. Combined with TotalEnergies' other projects (Begonia Phase 3, CLOV extensions, Dalia/Pazflor optimization), the company alone could add significant incremental production in the 2025-2030 period.
Production by Key Block/Operator
Block 17 (TotalEnergies, operator): Girassol, Dalia, Pazflor, CLOV — historically Angola's highest-producing block. Block 15/06 (Eni/Azule Energy): Significant mature production. Block 32 (TotalEnergies): Kaombo North and South FPSOs. Block 31 (BP/Azule Energy): PSVM development. Block 0 (Chevron): Cabinda shallow-water production. Block 20/11 (Kaminho): First oil 2028, 70,000 bpd plateau.
For the FPSO fleet profile, sector overview, and strategic outlook, see our dedicated pages.