New Oil Players Embrace Angola’s Investment Drive with Oil & Gas 2019 Forum
Under President João Lourenço, the Angolan oil and gas sector has grown from strength to strength and opportunities await for businesses in all sectors who are keen to increase their exports into new markets.
The reforms by the government so far will benefit all Angolans and increase the ability of employers to generate more opportunities for Angolan citizens, investors and the region. The Africa Energy Chamber proudly endorses the Angola Oil & Gas Conference 2019, organized by Africa Oil & Power in Luanda on June 4th to 6th 2019.
“Under the leadership of President João Lourenço’s, Angola is undergoing structural reforms politically, economically and socially, which if successful, will transform Angola away from its reliance from oil. Therefore, our support for the Angola Oil & Gas 2019 Conference and the people of Angola is very important,” explained Centurion Law Group CEO and Executive Chairman of the Chamber NJ Ayuk. “Angola is a prime investment destination due to its oil reserves. With about 9.9 billion barrels of proven reserves, it holds some of the world’s most promising oil deposits and estimates of Angola’s probable commercially recoverable reserves are at least 10.7 billion barrels. This is a great opportunity for new explorers and service companies as well.”
“This will be Angola’s largest and most important industry platform,” declared recently-appointed AEC President for Angola, Sergio Pugliese. “Since 2017, we have seen the passing of landmark regulations for the sector, including gas regulations, marginal fields regulations, and a complete new oil licensing strategy up until 2025. The conference will also see the launching of Angola’s first Marginal Fields Bidding Round, which is ideal for all African E&P companies and international independents seeking to expand beyond their home country.”
Pragmatism on Local Content legislation and relaxing visa rules has been aimed at keeping Angola competitive globally and we welcome these changes. During the Angola Oil and Gas conference, the Chamber will organize a trade mission to Angola offering an opportunity for upstream, midstream and downstream oil and gas players to explore and consider the Angolan market.
With its upcoming Marginal Field Bidding Round, ongoing licensing of several blocks from this year onward, and numerous opportunities across the gas value-chain, Angola has become one of the most attractive and lucrative markets for oil investors.