Angolan national oil company Sonangol has been transferring its concessionaire role to the National Agency for Oil, Gas and Biofuels (ANPG) since 18 April, the oil secretary said.
José Alexandre Barroso, speaking on Tuesday in Luanda on the sidelines of the presentation of the oil market report for the first quarter of 2019, said that the Angolan concessionaire for the sector will contribute to a “greater liberalisation” of the market, which he said was just “a matter of time.”
Since 18 April the ANPG, through Law 5/19, has been the new oil sector concessionaire, replacing Sonangol in this role, under the terms of a presidential decree.
The Angolan government, as part of the ongoing restructuring of the oil sector, in February 2019 created the National Oil, Gas and Biofuels Agency with specific responsibility to act as the national concessionaire.
The measure is part of an ongoing process of restructuring the oil sector with a view to ensuring greater political coordination, eliminating possible conflicts of interest, increasing transparency and efficiency of procedures and creating attractive conditions for private investment.
The duties of the new Angolan concessionaire include regulating, supervising and promoting the execution of oil activities and contracting within the oil, gas and biofuels sector. (Macauhub)