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Now more than ever is the time to invest in Angola’s energy industry and drive inclusive and sustainable economic growth on the back of oil and gas
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JOHANNESBURG, South Africa, November 3, 2022/ — By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org
At a time when global markets are turning to African oil and gas, Angola has emerged as a highly attractive investment destination among international players, with the country’s enabling business environment making it the market of choice for financiers and project developers across the entire energy value chain. As a champion of and advocate for the African energy industry, I have seen firsthand the success of Angola in becoming Africa’s largest oil producer and taking great steps to reverse its production decline, which has resulted in a plethora of new players entering the country’s oil and gas space. Angola is also actively prioritizing gender equality within its industry and fostering inclusion by seeking out women to drive local companies. The country’s underexploited, hydrocarbon-rich basins – particularly in the Kwanza and Namibe Basins – lie in close proximity to some of the largest offshore oil and gas discoveries in Africa and the world. Investor-friendly policies, as well as the government’s commitment to revamp the national energy sector, are driving the next wave of upstream investment and transforming the market into a hub for the world’s major energy companies, including TotalEnergies, Chevron and ExxonMobil, as well as new players like Afentra and the recent merger between Eni and bp, known as Azule Energy. The tireless work of H.E. President João Lourenço, H.E. Minister Diamantino Azevdeo and the dedicated teams at the National Agency for Oil, Gas and Biofuels (ANPG) and Sonangol have enabled Angola to realize its potential. Angola Oil & Gas 2022 (AOG) 2022 is the ideal platform to gain real-time insight into the multi-faceted opportunities on offer in Angola’s oil and gas space and beyond. The Angolan Government has shown its commitment to building an oil and gas sector that serves future growth and fully unlocks Angola’s promise. New rules of engagement and various policy reforms – including cutting down time spent to close exploration and production deals from 18 months to less than a year, as well as reducing petroleum taxes – provide massive opportunities for Angola to ramp up its exploration activities. During the recent African Energy Week conference held in Cape Town, Belarmino Chittargueleca, Executive Director for Angola’s national concessionaire ANPG stated, “The government has set up new regulations and policies to make our country competitive and we are conducting a study on how to stay competitive to increase exploration partners and investments.” With the ANPG set to offer more than 50 blocks for exploration over the period 2019-2025 and national oil company Sonangol seeking exploration partners for several of its assets, Angola’s oil and gas outlook is incredibly positive. With Angola aiming to harness its vast hydrocarbon resources to drive energy security at home, across the region and the globe, boosting exploration activities from current levels is vital, and AOG 2022 is the ideal platform to discuss market challenges, opportunities and best practices to optimize investment and the execution of upstream projects. AOG 2022 will result in deals and investment into one of the world’s most important oil and gas producing markets. Join me to explore the path forward: empowering Angola’s domestic industry and celebrating innovation and attracting new partners. Angola is Africa’s energy powerhouse. I personally believe that AOG 2022 is the place to be if you want to invest in the success of future generations, new oil and gas projects and emerging industries in petrochemicals and manufacturing. AOG 2022 is committed to unlocking new capital and leveraging Angola’s potential as an oil and natural gas powerhouse to trigger newfound growth. Taking place from November 29 to December 1 in Luanda, AOG 2022 seeks to accelerate capital expenditure in the Angolan market, while promoting inclusive and innovative growth driven by oil and gas. Join me at AOG 2022 where together our knowledge, expertise and passion can build a nation with energy as its foundation. To register go to Register@energycapitalpower. Distributed by APO Group on behalf of African Energy Chamber.
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