Ver Angola

Energy

Oil concessions should absorb investments of 67.4 billion dollars in five years

Planned investments over the next five years for the currently active concessions in the country's oil and gas sector will be approximately 67.4 billion dollars, an official source estimated Friday.

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According to a director of ANPG - National Agency of Oil, Gas and Biofuels, from the global investment foreseen for the next five years (2021-2025), the state company Sonangol will need to contribute with about 16.8 billion dollars.

The growth perspectives for the country's oil and gas sector were presented, in Luanda, by Belarmino Tchitangueleka, ANPG board member, during a "Forum on Business Opportunities in Angola in the Mining, Oil and Gas domains" addressed to the diplomatic corps in the country.

The behavior of investments in the last five years, on the order of 56.3 billion dollars, compared to the growth perspective for the next five years of 67.4 billion dollars, he assured, mirror a growth trend in the sector of 11 billion dollars.

The ANPG "is also committed" to promoting the development of marginal fields and new oil and gas opportunities, whose action, explained Belarmino Tchitangueleka, consists in "promoting opportunities in marginal concessions" and "variables that bring better indexes of economic viability to these opportunities and consequently make them attractive and feasible.

Initiatives to foster the development of marginal fields and new oil and gas opportunities are underway in nine oil blocks in Angola, he said.

The construction of infrastructure to support oil and gas activities were also noted by the official, who admitted the need for the "improvement of logistics terminals/bases to support production operations or other facilities.

The country "needs to create infrastructures for the treatment of industrial waste from common exploration," he admitted.

The tendering of 10 offshore blocks, with a potential 4.6 billion barrels, political reforms in the oil sector, "fiscal and contractual stability, more opportunities for service providers and a more transparent and competitive business environment," were noted by the ANPG technician as "reasons to invest in Angola".