Shell Strengthens Angola Strategy With AOG 2026 Participation And New Deepwater Investments

LUANDA, Angola, April 15, 2026/APO Group/ --

Eugene Okpere, Executive Vice President Exploration, Strategy & Portfolio for Integrated Gas & Upstream at Shell, will speak at the Angola Oil & Gas (AOG) 2026 Conference and Exhibition – taking place this September in Luanda. Okpere’s participation follows Shell’s return to the market in 2025 and subsequent exploration agreement covering three deepwater blocks, a move expected to unlock approximately $1 billion in investment.

Shell’s return to Angola after a 20-year hiatus marks a major upstream development for Angola. After previously exiting the Angolan upstream sector, the company’s re-entry signals renewed confidence in the country’s deepwater potential at a time when Angola is working to stabilize crude production through a combination of new exploration, redevelopment of mature assets and targeted investment incentives. Recent transactions by the company point to its commitment to unlocking Angola’s deepwater potential. 

In January 2026, the company signed a deal to acquire a 35% stake in two deepwater blocks from energy major Chevron. The farm-in grants the company a minority stake in the assets and follows an agreement signed at the 2025 edition of AOG for Block 33/24. The acquisition also follows a November 2025 agreement granting Shell exclusive rights to conduct exploration activities at Blocks 19, 34 and 39 alongside Equinor and Sonangol.

Situated in the ultra-deepwaters of the Kwanza Basin, the blocks feature significant hydrocarbon potential given their proximity to commercial assets. The partners will kickstart technical and operational studies with a view to determine the blocks’ oil potential in support of an upcoming exploration phase.

Angola’s deepwater sector remains one of the most prospective offshore regions globally, with decades of production history and significant remaining resource potential. As production from mature fields declines, the country has been intensifying efforts to attract fresh investment into exploration and new developments. Regulatory reforms, licensing opportunities and partnership frameworks are being implemented to encourage international oil companies to re-enter the market and commit capital to long-term projects.

Shell’s renewed presence is a testament to these efforts. With experience unlocking new deepwater frontiers in markets such as Namibia, the company brings deepwater technical expertise, project development experience and financial capacity, all of which are critical for advancing complex offshore projects. The $1 billion investment associated with the block acquisitions is expected to support exploration activities and potential future development, contributing to Angola’s broader objective of sustaining production over the long term.

As such, Okpere’s participation at AOG 2026 comes at a critical time - both for Angola as it pursues new discoveries and for Shell as it expands it African exploration portfolio. As Shell advances its re-entry into Angola through newly acquired deepwater positions, the conference provides an important platform for engagement with government stakeholders, partners and service companies involved in offshore exploration and development.