Between 2022 and 2024, Angola was producing approximately 600,000 barrels per day, as a result of the lack of investment in the oil sector due to the economic crisis that caused a reduction in oil activity, said the official while speaking at the Forum on Investment in the Mineral Resources, Oil and Gas Sector – held this Wednesday in the province of Cuanza Norte –, adding that this number doubled last year, causing the country to currently produce 1,024,000 barrels per day.
According to Angop, the increase is the result of the strengthening of the Executive's investments in the sector, as well as the change in the governance model of the oil sector, which resulted in the approval of a new strategy to explore hydrocarbons.
Speaking on the topic "Opportunities to boost the mineral resources production chain", at the same forum, Jacinto Rocha, Chairman of the National Agency for Mineral Resources (ANRM), said that it was necessary to invest in the provision of services to the oil sector, adding that action in the sector was not limited to extractive companies.
Quoted by Angop, the official highlighted the principles established so that non-extractive companies could organise themselves both technically and financially, as well as being able to participate in tenders to provide services and supply products to the oil sector value chain.
"Companies in the mining sector are not only those involved in extraction, but also include service providers", he said.
Among other aspects, the official considered that the provision of services in these sectors represents a chain with the capacity to create value and employment opportunities.
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, also participated in this forum. In his speech, one of the aspects he addressed was oil and gas.
"We are implementing a clear strategy to maintain production above one million barrels of oil per day and attract new operators, through regular tenders and new operational rules. Natural gas is a strategic bet. The energy transition is also at the heart of our policies. Angola is already investing in solar energy and green hydrogen. Another priority is to achieve self-sufficiency in fuels," he said.
