Ver Angola


ANPG predicts investments of 66 billion dollars in the oil sector over the next five years

The National Agency for Petroleum, Gas and Biofuels (ANPG) forecasts a turnover in the oil sector, for the next five years, of around US$66 billion.


This forecast includes the extension of production licenses already signed between ANPG and the operators, namely in Blocks 15, 17, 18 and also in Block 0, as well as activities related to the exploration and development of oil projects and operational and administrative.

If confirmed, this forecast translates into an increase of around 40 percent when compared to the last five years, says the national concessionaire in a statement sent to VerAngola.

These data were released by the director of the Strategic Planning Office of the National Agency for Petroleum, Gas and Biofuels, Alcides Andrade, at the Seventh Consultative Council of the Ministry of Mineral Resources, Oil and Gas (Mirempt), which took place between the 2nd and 3rd de Junho, in the province of Benguela.

According to this official, who dedicated his speech to the presentation of the "Balance of Activities in the Last 5 Years and Future Prospects for the Oil Sector", more than 50 percent of the turnover forecast for the next five years will be associated with exploration activities and development of petroleum projects.

"Angola is seen by international operators as a competitive market in the oil sector. The bids that we have already carried out, either through public tender or under direct negotiation, prove this, mainly due to the wide participation of interested parties. But, obviously, we have points for improve and we are focused on doing it to be as good as the best", emphasized Alcides Andrade.

In order to achieve these improvements, the ANPG is carrying out a study on the competitiveness of the Angolan oil sector vis-à-vis other countries, with a view to identifying competitive indicators to be improved, including aspects such as the better adequacy of the tax burden, the shortening of the periods between the start of the bidding process, award and signing of the concession contract, which currently lasts an average of one year.

"These are aspects that we have to improve so that Angola can occupy the top positions of competitiveness in the sector globally", said the official.

One of the aspects to be considered in the aforementioned study is the model of oil contracts used in Angola, with a view to identifying measures that mitigate the fluctuation of prices in the international market and that increase the incentives for investors to have Angola as a place of choice to the detriment of from other markets.

The purpose of the Seventh Advisory Board was to take stock and analyze the activities carried out in the last five years and envisage future actions in line with the objectives established in the National Development Plan 2018-2022 for the Mineral Resources, Oil and Gas Sector.

The event had the participation of the minister of tutelage, Diamantino Azevedo; the governor of the province of Benguela, Luís Nunes; of members of the Advisory Board, of the presidents of the Boards of Directors and of the general directors of the agencies and companies supervised, MIREMPET technicians and other invited entities.

During the two days of work, topics such as the energy transition, the competitiveness of the oil sector, obtaining licenses for the exploration of agrominerals and limestone rocks, among others, were discussed.


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