By: Economy Middle east

TotalEnergies has extended its commitment in Angola. The French energy group, operator of Block 32 — one of the country's largest ultra-deepwater oil assets — has agreed to continue developing the offshore block through 2043, extending production and investment by another 17 years.

A framework agreement formalizing the commitment was signed in Luanda on Wednesday, May 6, according to Angola's National Agency for Oil, Gas and Biofuels (ANPG). The agreement covers six development zones in the Lower Congo Basin at water depths ranging from 1,500 to 3,000 meters: Cominhos, Alho, Cola, Manjericão, Colorau and Kaombo.

The deal follows negotiations conducted throughout 2025. It aims to maintain investment flows, provide greater fiscal and operational certainty, and accelerate new oil production.

The parties also agreed to consider applying Angola's incremental production regime, a fiscal framework introduced in November 2024 to encourage additional investment in mature offshore blocks through more favorable terms than the standard fiscal regime.

A Mature Block With Remaining Potential

In production since 2018, Block 32 covers 5,340 square kilometers and hosts the Kaombo offshore oil project. TotalEnergies estimates reserves at 658 million barrels, with installed production capacity of 230,000 barrels per day. Roughly 40% of those reserves remain recoverable, provided investment continues.

TotalEnergies had already demonstrated its commitment to the block before the agreement was signed. In October 2024, the company commissioned Norwegian firm Shearwater Geoservices to conduct an advanced seismic survey on the Louro and Mostarda fields within Block 32. The survey helps map recoverable hydrocarbon reserves more precisely and is a key step before further investment decisions are made.

That is where Angola's incremental production regime becomes important. The framework reduces royalties from 20% to 15%, caps the government's share of profits at 25%, and expands operators' ability to recover operating costs, according to figures reported by OilPrice in October 2025.

The framework has already delivered results elsewhere. In 2024, ExxonMobil announced a discovery in Block 15, the first made under the new regime. The discovery suggests Angola's mature offshore blocks may still hold significant untapped reserves under more attractive fiscal terms, according to an analysis published by the African Energy Chamber on May 11, 2026.