Government of Angola wants greater involvement of local entrepreneurs in oil exploration

22 October 2014

Angola’s Oil Minister, Botelho de Vasconcelos, has called for Angolan entrepreneurs to have a bigger role in future tenders for contracts for the supply of goods and services in oil operations, ahead of new auctions for oil blocks.

The minister said the companies, rather than providing services for small jobs, should gain more technical and financial capacity in order to take advantage of other opportunities of greater complexity.

The minister, who was speaking at the opening of the “Forum of Oil Sector Suppliers,” in Luanda, called for Angolan companies to become more competitive and professional so they can keep up with new technological developments.

There are currently 3,000 Angolan registered companies, some of which are geared to provide services and others to production, drilling and technical areas.

Botelho de Vasconcelos said he expected “a strong entrepreneurial class and more profitable partnerships for national and foreign companies,” to emerge in the future. (macauhub/AO)