Manuel Nunes Júnior said that it is crucial that the oil sector continues to generate financial resources, but that these should be used to benefit the rest of the economy, in order to make it more solid and sustainable.
For the minister, it is essential that the country enters a "cycle of stability less dependent on oil".
During his speech, quoted by Jornal de Angola, the minister also explained that the current decline in oil production and the delay in the entry into production of new fields are due to the fact that investments were not made "in a timely manner", translating into negative growth in the oil sector in recent years.
The Minister of State reiterated that the Executive has been working to reverse this situation, changing legislation, increasing recovery rates and relaunching exploration in general. "We will also accelerate the production of natural gas and use the associated gas production to supply LNG," he added, quoted by the same newspaper.
Finally, he stated that the Government will adopt environmental conservation initiatives related to the oil sector, such as the gradual introduction of renewable energies in the national energy matrix.
The 'Angola Oil & Gas' conference began this Thursday, at the Talatona Convention Center. Until Friday, the event will take place under the theme "Angola Oil and Gas Industry: The Roadmap for Regeneration and Growth", bringing together ministers, businessmen and specialists in the context of oil and gas.
Manuel Nunes Júnior defends an end to oil dependence (once and for all)
It was at the opening of the 'Angola Oil & Gas' international oil conference that the Minister of State for Economic Coordination defended that “an economy that depends on a single product to generate its tax revenues and external resources is not a sustainable economy ”.
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