In a bid to transform its energy sector, Angola on Thursday announced plans to initiate a National Agency of Petroleum and Gas.
The agency will regulate and design policies under the auspices of the Ministry of Petroleum, while the national oil company (NOC) Sonangol, which is currently undergoing a regeneration program, oversees exploration and production.
Sonangol’s regeneration program will target the restructuring of Sonangol to make it more competitive and profitable, focusing on the primary value chain and contributing to the improvement of the performance of Angola’s oil sector.
The restructuring of Sonangol, was officially approved by President Joäo Lourenço in September.
Angola expects to roll out the National Agency of Petroleum and Gas in January next year and become fully operational by December 2020.
Endorsed by the Ministry of Mineral Resources and Petroleum, Africa Oil & Power will organize the first Angola Oil & Gas conference, which will be held on June 4-6, 2019 in Luanda. Registration is now open.