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Angola’s Lourenco Fronts Oil & Gas Reforms To Attract Investors

President João Manuel Gonçalves Lourenço of Angola President João Manuel Gonçalves Lourenço of Angola

President João Manuel Gonçalves Lourenço of Angola has emphasized that the oil and gas industry is a key driver in attracting domestic and foreign private investment into his country. And true to his world, the President has invited investors to attend the Angola Oil & Gas 2019 Conference taking place June 4-6 in Luanda.

In the recent time since he took over presidency, Angola has adopted a new era of oil and gas through reforms and transparency of tenders. The President will unpack best international practices for Angola's oil and gas sector at the Angola Oil & Gas 2019.

He stated that the country is applying the best international practices in its fundamental oil and gas sector. The government will utilize the event to facilitate investment across the Angolan economy. "In recent times we have changed our policy of managing energy resources, such as oil and gas, to better serve the interests of our country and investors," said President Lourenço.

He highlighted that there is a need to diversify Angola's economy, and he remains cognizant that oil is the key driver of economic activity throughout the country. "This new era in oil and gas is the result of Angola having adopted a totally transparent management of tenders," he stated.

In a bid to lure further investment into the country's oil and gas sector, Angola's national oil company, Sonangol, is in the process of being restructured to focus on the production, refining and distribution of petroleum products and natural gas.

Government has also created the National, Oil, Gas and Biofuels Agency, which has become the concessionaire of the country's petroleum resources.

Endorsed by the Ministry of Mineral Resources and Petroleum, the two-day conference will feature keynote addresses from Minister of Mineral Resources and Petroleum, H.E. Diamantino Pedro Azevedo; José Alexandre Barroso, Secretary of State for Petroleum; and Paulino Jerónimo, Chairman of the National, Oil, Gas and Biofuels Agency.

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