According to the PCA, which spoke at a press conference as part of the ANPG's fifth anniversary, between 2022 and 2023, there was a significant increase in investment, rising from approximately 5.6 billion dollars to 12 billion dollars, while in the last five years, the oil sector has invested around 50 billion dollars.
Investments in the order of 71 billion dollars are planned for the next five years, which does not include investment in incremental production, highlighted Paulino Jerónimo, expressing confidence that this project will double investments.
According to Paulino Jerónimo, this project is being discussed with the Ministry of Finance and its main objective is to provide incentives to companies that produce more than expected.
Below the expected production, the sharing of oil and profit will be made in accordance with the contract. And whatever is produced above will be shared according to negotiation between the concessionaire and the operator.
Paulino Jerónimo classified the balance as positive, since the country's production remained at around 1,100,000 barrels of oil per day, as well as four tenders for new concessions were completed. Other contributions to achieving results include the regulatory framework and the improvement of the business environment.
The ANPG five-year report also points out that this production was ensured, on average per year, by 11 rigs and 30 well drillings, with 43 drillings planned for this year.
In his intervention, Paulino Jerónimo highlighted some aspects achieved in these years, such as the mitigation of the decline in production.
"Over these five years, we mitigated the decline in production, resumed, eight years later, bidding for new concessions, invested in exploration activity through the 2020-2025 exploration strategy, developed joint efforts to decarbonize oil operations and to the promotion of renewable energies with a focus on biofuels", he said.
According to the official, they also boosted "local content" and implemented "policies and actions aimed at developing human capital and social responsibility", as well as creating "conditions for the maintenance of investors who are already present in Angola and for the entry of new people" and established "closer relationships with all" partners.
The chairman of the Board of Directors of ANGP said that the country is currently producing 1.1 million barrels daily, quantities that would reach 1.2 million barrels of oil per day, were it not for the daily losses of 90 thousand barrels of oil.
In the last five years, the country recorded unplanned production losses of around 170 million barrels of oil, due to the aging of most of the concessions, designed to operate for between 15 and 20 years, some already more than 60 years old.
"And our large installations such as Girassol and Dália are already more than 20 years old and this means that the systems in these installations have more failures, the failures are more recurrent. Regular preventive maintenance is no longer enough to mitigate these failures, greater effort and investment are required", said ANPG production director, Ana Rosa Miala.
Ana Rosa Miala highlighted that, with all the incentives being given in the sector, installation failures will reduce, with their rehabilitation by investors, and better supervision of operators' work programs, in accordance with international practices, based on new technical regulations.
The official stressed that the target continues to be production above 1.2 million barrels per day, with exploration work, tenders and new discoveries in the Namibe basin, the Kwanza and Benguela basins, in addition to the Congo basin.
Remember that the ANPG was created on February 6, 2019, through presidential decree.
