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Angola: Restructuring of mineral and oil sectors to continue

The restructuring process of the mineral and oil sectors underway in Angola will continue as part of the strategies aimed at boosting the productive activity and the social responsibility of some companies.

According to the minister of Mineral Resources and Petroleum, Diamantino Azevedo,  the referred process includes public companies such as Sonangol, Endiama, Sodiam and Ferrangol.

The minister, who was speaking at the closing ceremony of the 1st Consultative Council of the Ministry of Mining and Petroleum, said the mining and hydrocarbon resources play a an important role in the economic process now and in the future, despite the challenges caused by some intrinsic aspects such as the price volatility and reserve levels.

These aspects, added the official, increases the sector’s responsibility in achieving the goals outlined by the government in the framework of the October 2017 and March 2018 Interim Plan and the 2018/2022 National Development Plan (PND).

Taking place under the motto “Mineral Resources and Petroleum in the Service of Economic and Social Growth in Angola,” the members of the Advisory Board concluded that the main factors affecting oil production activities in 2017 were related to unscheduled stoppage recorded at some facilities and the natural decline of production of the main fields.

Source: Angop

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