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Lusa - Business News - Angola: Reforms make investment in small oil companies more attractive - AOP

Johannesburg, Mar. 18 (Lusa) – The CEO of Africa Oil & Power (AOP), one of Africa’s largest energy conference organisers, told Lusa that reforms in Angola will make investment more attractive for small and medium-sized companies .
“There is a very old-fashioned image of Angola as a market only for large oil companies, but the way the market is being structured by the government will change this perspective, especially with the attention given to marginal oil and gas wells, which will make investment and exploitation much more attractive for small and medium-sized oil companies,” said Guillaume Doane.
In statements to Lusa, Doane said that “the government is very committed to the reforms, which send a strong signal to international investors,” and added, on the diversification of economy and opening the market, that “there are key reforms that show it is different this time.”
“The establishment of the oil and gas agency, responsible for the concession, is a critical step and, at the same time, it is the government’s acknowledgement that the previous structure was not optimised,” Doane said.
Asked whether the government’s priority is to relaunch oil production or invest in the diversification of the economy, Doane replied that for economies that are “extremely dependent on oil revenues”, such as Angola, the priority must be split, and changes do not take place overnight.
For him, the main goal for the conference scheduled for June is for it “to be a catalyst for oil and gas investment in Angola, a country that has changed a lot and will be presented to investors as a new and revitalised Angola.
The ‘Angola Oil & Gas’ conference is to take place from 4 to 6 June at the Centro de Convenções Talatona (CCTA) in Luanda, and it will be held after the APPO CAPE VII Congress and Exhibition in April, in Malabo, Equatorial Guinea.


Agency : LUSA

Date : 2019-03-19 08:47:06


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