Angola’s president invites investors to Angola Oil & Gas 2019

joao anJoão Manuel Gonçalves Lourenço, President of Angola, will highlight international best practices for Angola’s oil and gas sector at the first Angola Oil & Gas 2019 from 4-6 June in Luanda

In a video statement provided to Africa Oil & Power, the president reaffirmed the role of oil and gas as a major driver in attracting domestic and foreign private investment into Angola.

“We are applying the best international practices in a fundamental sector for the economy,” the president said. “We will explain this in detail at the international conference Angola Oil & Gas 2019.”

The government is expected to utilise 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 further highlighted that there is a need to diversify Angola’s economy. He remains cognizant that oil is one of the most important drivers of economic activity throughout the country.

“This new era in oil and gas is the result of Angola having adopted 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 further 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 is set to feature keynote addresses from Minister of Mineral Resources and Petroleum, HE Diamantino Pedro Azevedo; José Alexandre Barroso, secretary of State for Petroleum and Paulino Jerónimo, chairman of the National, Oil, Gas and Biofuels Agency.

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