The government official, who was speaking at the opening session of the seminar "Local Content, for the Strengthening of Angolan Entrepreneurs", an initiative of his ministry and ANPG - National Agency for Petroleum, Gas and Biofuels, considered it "imperative" to insert "a significant number and growing in the range of Angolan and local companies in operating companies and large service providers".
These services, he listed, include "processes, systems, human capital, and in key areas such as engineering, technical maintenance, prospecting and production, and procurement of specialized materials and equipment."
"It is important to emphasize that, in order to take better advantage of opportunities, national companies, in addition to the 'know-how' and mastery of the technologies required for the supply of goods and services in the [oil] sector, must also improve aspects linked to quality, efficiency and productivity", he highlighted.
Angolan companies "also need to be robust and financially capable of being inserted in the oil and gas business", warned Diamantino de Azevedo, who appealed in his intervention to the banks to "proactively" guarantee the necessary support.
Azevedo also listed the legislative steps that have already been taken for the legal framework for the participation of Angolan companies in the various dimensions of the oil sector.
The minister also identified the constraints faced by the Angolan oil industry in recent years, such as the sharp decline in production that has been observed since 2016, caused by the low level of investment in exploration activities, due to the lack of tenders for new concessions since 2012 and the constant fluctuations in the price of a barrel of oil since the end of 2014.
