africa Angola commodities oil

Angola Petroleum and Gas Agency invites investors to road-show

The National Petroleum, Gas and Biofuel Agency (ANPG) is making the registration of those interested in taking part in the international road-show it will hold from September 3 to 23 to introduce the oil blocks of Namibe and Benguela basins for further auctioning.

According to a press note from the ANPG that reached ANGOP on Thursday, the road-show is due to take place in Luanda, Houston, London and Dubai.

The event kicks off on September 3 in Luanda, in the meantime registration to take part in the road-show end on August 23.

Following Luanda the event will be held in Houston on September 10, London, September 17 and Dubai on September 23.

Besides introducing the geological potential of the blocks, the legal, fiscal and contractual issues concerning the process are also due to be presented in the event.

Angola is the second largest crude oil producer in the Sub-Sahara region, whose crude oil output reaches 1.5 million barrels per day, behind Nigeria that produces 1.7 million of crude oil barrels.

However in the last few years, Angola’s oil output has dropped, due to the poor investments in the prospection, research, development and exploitation fields.

Angola’s government strategy for the oil sector is to entice investors in new areas, hence the ongoing reform process it has undertaken, from legislation updating, restructuring of the state-owned oil firm Sonangol, to the creation of the National Petroleum, Gas and Biofuel Agency.

Source: Angop

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