Angolan President, João Manuel Gonçalves Lourenço, has reaffirmed the oil and gas as key in attracting domestic and foreign private investment into Angola.
He stated that the country is applying the best international practices in its fundamental oil and gas sector; the details of which will be unpacked at the upcoming Angola Oil & Gas 2019 Conference & Exhibition – the government’s leading platform for promoting oil and gas investment and unveiling key economic reforms.
The government will use the event to facilitate investment across the Angolan economy. “In recent times we have changed our policy of managing energy resources, such as oil and gas, to better serve the interests of our country and investors,” said President Lourenço.
He highlighted that there is a need to diversify Angola’s economy, and he remains cognizant that oil is the key driver of economic activity throughout the country.
“This new era in oil and gas is the result of Angola having adopted a totally transparent management of tenders,” he stated.
In a bid to lure further investment into the country’s oil and gas sector, Angola’s national oil company, Sonangol, is in the process of being restructured to focus on the production, refining and distribution of petroleum products and natural gas.
Government has also created the National, Oil, Gas and Biofuels Agency, which has become the concessionaire of the country’s petroleum resources.
Endorsed by the Ministry of Mineral Resources and Petroleum, the two-day conference will feature keynote addresses from Minister of Mineral Resources and Petroleum, H.E. Diamantino Pedro Azevedo; José Alexandre Barroso, Secretary of State for Petroleum; and Paulino Jerónimo, Chairman of the National, Oil, Gas and Biofuels Agency.
The conference will launch the highly anticipated 2019 Oil & Gas Licensing Round, introduce the role of the newly established National, Oil, Gas and Biofuels Agency and will welcome exploration interest in marginal oil fields.