The African Energy Chamber (AEC) is an organization that acts as a voice for the African energy sector, defending its interests and promoting investment by working with African and international partners, both in the public and private sectors.
"The 'Personality of the Year in the Energy Sector' award recognizes President Lourenço's impact, highlighting how his ambitious and inclusive leadership has created development opportunities for Angola and the region," CAE said in a statement.
CAE justifies the distinction with the "long-term strategy" to revitalize the sector, highlighting that by introducing more adaptable investment models, João Lourenço "managed to attract interest to the energy sector again, which resulted in a significant increase in investment in all phases of the energy value chain".
They point out among the main stimulus measures the risk-sharing service contracts, the permanent supply regime for oil blocks, the creation of opportunities for exploration of marginal fields and the implementation of a program to gradually increase production.
The privatization of Sonangol, the creation of specific regulatory entities for exploration (upstream) and refining and distribution (downstream) activities, and the review of tax legislation also contributed, according to the CAE, to strengthening investment and promoting greater transparency in the energy sector in Angola.
Angola is currently planning an investment of 60 billion dollars over the next five years and is opening up new opportunities for licensing blocks.
"A new licensing round, scheduled to begin in 2025, should boost investment, offering 10 blocks for exploration in the Kwanza and Benguela basins", notes CAE, adding that Angola also offers 11 additional blocks for investment via direct negotiation, in parallel with five opportunities in marginal fields.
It is also said that the Angolan President "positioned the natural gas sector as the engine of the country's development" and that the country "set the goal of achieving a refining capacity of over 400,000 barrels per day."
In previous editions, the following were awarded: Frank Fannon, former United States Assistant Secretary of State for Energy Resources; Mohammed S. Barkindo, former Secretary General of OPEC; Hage Geingob, former President of Namibia; Meg O'Neill, CEO and Executive Director of Woodside Energy, and Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank.
African Energy Chamber
