The new agency will act as regulator, overseeing and designing policies under the direction of the ministry, while Sonangol will focus on exploration and production, Prensa Latina reported.
President João Lourenço approved the restructuring plan for the Angolan NOC in September.
In April 2016, the Ministry of Petroleum announced that Sonangol would be restructured. In a December 2016 interview with the Financial Times, then Sonangol chair Isabel dos Santos said the NOC would be divided into three units: E&P, logistics and a division to manage concessions to IOCs. The company’s holdings not related to oil will be placed in a separate fund or sold.
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 government announced in August 2018.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.