Diamantino Azevedo was speaking at the opening of the Angola Oil & Gas conference, in Luanda, focusing on the current context of energy transition that requires clear decisions to be made to guarantee energy security and respond to the challenges of climate change.
He highlighted that energy security constitutes the main topic on the agenda of several countries, but must be achieved through a fair energy transition, for which it will be necessary to use all existing energy sources, “giving the possibility to oil-producing countries and gas to continue developing their resources, to promote their economic growth and development”.
The minister recalled that, in addition to oil and gas reserves, the African continent also has renewable energy sources and that all these resources are useful in reducing extreme energy poverty, taking into account that around 600 million people in Africa do not have access to modern energy sources.
“However, for energy security to be a fact, the continent must have the capacity to mobilize the necessary investments to explore its various energy sources and develop infrastructure,” he noted.
In the case of Angola, he highlighted several projects, in the oil field, photovoltaic, hydroelectric or green hydrogen, highlighting that the Government has also been committed to “improving legal, fiscal and contractual instruments, to create increasingly competitive and transparent conditions for investment in up, mid and downstream projects” (production, transport and storage and distribution).
And he noted that the main challenge for upstream is to halt the sharp decline and keep oil production above one million barrels per day in the coming years.
“Among the ongoing actions, we would like to mention exploration in development areas, the redevelopment of mature fields, the extension of concession periods and the application of new fiscal and contractual terms in marginal fields”, he listed.
Diamantino Azevedo also highlighted natural gas as an important resource for the energy transition, with Angola having already formed the first consortium for the development of non-associated gas.
“The Natural Gas Master Plan, in consultation with sector partners, will constitute the strategy for the development of this resource, which will contribute to the diversification of our economy, with the creation of petrochemical, steel, etc. industries, constituting investment opportunities, mainly for the private sector”, he stated.
For Diamantino Azevedo, in the context of decarbonization, it is important to promote methods and technologies that reduce the intensity of emissions in the oil and gas production process, calling on operating and service companies in the sector to bring the latest innovations to the national market. technological.