Angola sets gas framework

Angola

LUANDA, May 22, 2018 – The Angolan government has set the legislative framework for the exploration, development and sale of natural gas, international media reported Tuesday.

A series of presidential decrees published in the Official Gazette have set out rules for gas development, the setting up of a fuel product regulator and marginal field exploitation, Reuters reported. Gasfields are to be taxed 5% on production and 25% on income. The Regulatory Institute for Oil Derivatives will be established to regulate the petroleum products market.

Another decree called for greater flexibility on concession boundaries to include reserves outside of blocks that are not part of other contract areas.

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