The request for legislative authorization that authorizes João Lourenço to legislate on the Added Value Applicable to oil investment companies in the NCG concession area passed the scrutiny of the deputies unanimously.
"The project aims to allow the NCG to exempt purchases and all VAT on imports of capital goods and raw materials, utensils and other products. It also aims to maintain the New Gas Consortium in the captive VAT regime" , said the Secretary of State for the Treasury of Angola, Ottoniel dos Santos.
According to the official, who was presenting the diploma to deputies in an ordinary plenary meeting, the NCG, whose construction of facilities in the province of Zaire began in October 2023, has an investment of four billion dollars in the first phase.
"It is necessary to create the legal-fiscal conditions here to guarantee, then, the normality and viability of this project. This request aims to allow Angola to start developing the exploration of non-associated gas [free gas from oil and water in the reservoir]", highlighted Ottoniel dos Santos.
The NCG project contemplates the exploration and production of gas from the shallow water fields Quiluma and Maboqueiro, through two offshore platforms, an onshore gas processing plant and a connection to the Angola LNG factory, with an expected production rate of four billion cubic meters of gas per year.
This new consortium is made up of Azule Energy, Cabinda Gulf Oil Company Limited, Sonangol, TotalEnergies and the National Agency of Petroleum, Gas and Biofuels.
At this fourth ordinary plenary meeting of the fifth legislature of parliament, deputies also approved requests for legislative authorization that authorizes the President, as holder of executive power, to legislate on the tax incentives applicable to the concession of blocks 49 and 50.
In the discussions, the deputies highlighted the importance of the aforementioned diplomas for stimulating the oil industry and, at the same time, defended incentives for other productive sectors in the country, aiming to promote employment.
