Angola's oil sector reforms offer lessons for Libya, African Energy Chamber says

(WO) — As Libya works to sustain its recent production recovery, the African Energy Chamber (AEC) says Angola's regulatory reforms offer a useful example of how policy certainty can help attract long-term upstream investment.

The observations are outlined in Crude Oil: Power, Turnaround and Transformation in Angola, a new book by AEC Executive Chairman NJ Ayuk, which examines Angola's efforts to strengthen its investment climate while expanding upstream activity.

Libya has increased crude production to approximately 1.5 MMbpd, its highest level in more than a decade, as the country seeks to rebuild its oil sector and attract new investment.

According to the AEC, one of Angola's most significant reforms came in 2019 with the creation of the National Oil, Gas and Biofuels Agency (ANPG), separating regulatory oversight from state-owned Sonangol's commercial operations. The organization says the move improved transparency and helped support an upstream investment pipeline expected to exceed $60 billion between 2025 and 2030.

The chamber also points to Angola's permanent licensing framework, policies supporting mature field redevelopment and dedicated natural gas legislation as examples of measures that strengthened investor confidence.

"Geology alone does not attract investment," Ayuk said. "Investors commit capital where regulation is predictable, contracts are respected and governments compete for long-term partnerships."

While noting that Angola and Libya face different political and institutional realities, the AEC argues that regulatory certainty and streamlined investment frameworks could help Libya translate recent production gains into long-term upstream growth.