Angola to open new oil concessionaire

Angola

LUANDA, August 16, 2018 – The Angolan government announced it would launch a new agency to handle block sales, international media reported Thursday.

The new National Agency of Petroleum and Gas is set to be rolled out in January 2019 and become fully operational by December 2020.

The new agency will manage and sell oil blocks, which is currently done by Sonangol. The move, which has been discussed for years, is expected to lower costs and eliminate conflicts of interest in the NOC.

“For Sonangol the proposed model allows it to focus on its core activities,” Reuters quoted the Ministry of Petroleum as saying.

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