Angola has officially commenced oil production from its newest floating production, storage, and offloading (FPSO) vessel, Agogo, marking a major milestone for the country’s offshore sector.
The announcement was made on Tuesday in a joint press statement by Azule Energy and Angola’s upstream oil regulator (ANPG Angola) and reviewed by Bavijas.
The Agogo FPSO arrived sometime in May 2025, just days after a fire outbreak was reported in Chevron’s Benguela Belize Lobito offshore oil platform, that dropped a few dead and injured around 17 people.
Agogo is now producing oil in the West Hub of Block 15/06, tapping into reserves from both the Agogo and Ndungu fields.
The project is operated by Azule Energy (36.84%) in partnership with Sonangol E.P. (36.84%) and Sinopec (26.32%).
Mind you, Azule is a 50:50 joint venture between Eni (Italian) and BP (British) and is currently Angola’s second-largest upstream oil operator, after French oil giant TotalEnergies.
The Agogo FPSO joins Angola’s expanding fleet and is notable for being the country’s first “green” FPSO.
It features an electrically powered topside and marine system, as well as an integrated carbon capture, utilization, and storage (CCUS) unit; positioning it at the forefront of cleaner offshore oil production.
With a capacity to produce 120,000 barrels per day, Agogo is expected to help Angola maintain output above 1 million b/d, with ambitions to reach 1.2 million b/d.
This would make Angola Africa’s third-largest oil producer, behind Nigeria (around 1.7 million b/d) and a resurgent Libya (over 1.3 million b/d).
Mind you, Angola leads Africa in FPSO deployment.
The country currently has 17 operational FPSOs (including Agogo), with another one planned within the next three years.
It is followed by Nigeria, which has eight.
On the global stage, Brazil holds the top spot with more than 40 active FPSOs.
In May 2025, Brazilian oil giant Petrobras said it was returning to Angola’s oil and gas sector, after years of exit.
Petrobras has historically held significant upstream assets in Angola’s oil sector before withdrawing in 2014.
The João Lourenço-led Angolan government is planning to offer several key assets in the forthcoming the 2025 licensing round, including;:
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11 blocks for direct negotiation
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5 marginal fields for development
- 10 blocks in the Kwanza and Benguela Basins
Since assuming office in 2017, Africa’s “energy person of the year” has implemented significant reforms that are revitalising both Angola’s oil and gas sector and its economy.
A former Minister of National Defence, Lourenço ended the 38-year old regime of former President Dos Santos, who hand-picked him as his successor.
Upon taking office, Lourenço stated his ambition to be remembered as the leader who brought an “economic miracle” to the country.
So far, he is making good on his promise.
For instance, Angola’s oil production, which was in decline during the last administration, is now coming back in a grand scale.
Oil production is now over 1 million b/d; a strong third on the continent.
Moreover, the country has helped clear a significant backlog of debt owed to China.
Angola received roughly $45 billion in loans from China between 2000 and 2022, with about half of that allocated to developing its energy and transport sectors.
But government data seen by Bavijas in June 2025 showed the loan had slumped to just $8.943 billion.