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Angola looks at $64 billion in planned oil and gas investments over next 5 years

Rig Lynx
  • By Rig Lynx
  • Apr 05, 2021
  • Category : Trending
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According to the National Agency of Oil, Gas and Biofuels (ANPG), planned investments for currently active oil concessions will amount to approximately $67.4 billion over the next five years – of which state-owned Sonangol will account for $16.8 billion.

 

Speaking at the “Forum on Business Opportunities in Angola in Mining, Oil and Gas” in Luanda, Dr. Eng. Belarmino Chitanguelca, Executive Board Member of the ANPG, reinforced the Agency’s commitment to promoting new oil and gas opportunities, with an emphasis on marginal fields. Chitanguelca added that infrastructure development is also underway to support the full scope of domestic oil and gas activities.

 

In stimulating investor interest, the ANPG technical team pointed out the prospectivity of the nine blocks currently on offer – which carry an estimated 4.6 billion barrels of oil – along with ongoing political reforms in the sector, heightened fiscal and contractual stability, and a more transparent business environment.

 

Source: Africa Oil and Power

 

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