Cabinda and Luanda Refinery Agreements announced at AOG 2019
- His Excellency President João Manuel Gonçalves Lourenço inaugurated the Angola Oil & Gas conference and exhibition in Luanda on Tuesday.
- Petroleum and energy Ministers from Angola, Equatorial Guinea, São Tomé and Principe and Lesotho – and the General Secretary of the International Energy Fund – attended and spoke at the event.
- Sonangol announced the winner of the Construction Contract of the Gasoline Production Unit of the Luanda Refinery, Kinetics Technology.
- The National Agency of Petroleum, Gas and Biofuels outlines the process, legislation and financial model of the licensing round.
Luanda, Angola, 4 June 2019 – Coming together to discuss Angola’s energy future under the conference theme, Petroleum as a Catalyst for a Dynamic, Renewing and Self- Sustaining Economy, at the first-ever Angola Oil & Gas conference and exhibition, H.E. João Manuel Gonçalves Lourenço, President of Angola and H.E. Diamantino Azevedo, Minister of Mineral Resources and Petroleum of Angola, welcomed a powerful lineup industry decision-makers in Luanda.
Organized by Africa Oil & Power and officially endorsed by the Ministry of Mineral Resources and Petroleum of the Republic of Angola, day one of the three-day conference opened with a welcome message from H.E. Diamantino Azevedo.
“The holding of this conference is presented as an excellent platform for showcasing the vision of the Angolan oil and gas sector,” he said, adding that such a gathering is “crucial for the economic diversification of Angola. It is an honor and a national achievement to be able to host such a prestigious event that is well attended by the leaders of the African energy industry. As Angola works on restructuring and implementing new processes in its energy sector, massive new opportunities in exploration, development and production are emerging. It is our main goal to create an environment that is beneficial to the country and its people first, while also welcoming the entrance of new foreign business.”
Following the Minister’s message, Sonangol E.P CEO, Engr. Sebastião Pal Querido Gasper Martins took the stage to announce Kinetics Technology as the winner of the construction contract for the Gasoline Production Unit of the Luanda Refinery and also signed a Partnership Agreement with United Shine for the Cabinda Refinery.
In a soft launch of the 2019 licensing round, the National Agency of Petroleum, Gas and Biofuels outlined the auction process, legislation and financial blocks – noting opportunities available in E&P and in the country’s Kwanza, Benguela and Cunene basins. Before announcing the Oil Blocks Licensing Round Table Tender, ANPG CEO Engr. Paulino Jerónimo said that should the 2025 goal to increase the country’s production capacity be met, it will “contribute to the replacement of the existing producing reserves.”
Honorary guest H.E. João Manuel Gonçalves Lourenço delivered an opening speech in which he highlighted the importance of an improved African energy sector, as the continent has great potential in its unexplored hydrocarbons reserves and therefore the opportunity to cement its place in the global energy sector.
President Lourenço said that as Angola is the second biggest oil producer on the continent it “holds an important cause,” noting that “Angola imports about 80 percent of oil products due to lack of domestic refining capacity.”
The country has set objectives to boost its reserves, refurbish the Luanda refinery, improve legislation and increase oil storage capacity, while also increasing local content implementation through its energy value chain. The President said the Angola Oil & Gas conference would “allow us to showcase to investors the vision Angola has through the topics proposed for discussion.”
The first day also saw the official opening of the exhibition and a special panel of ministers titled New Global Dynamic of Petroleum and Gas, moderated by CNN Africa Correspondent, Eleni Giokos and preceded by Africa Oil & Power CEO, Guillaume Doane who said: “This is an unbelievably exciting time for Angola as it puts into motion real and constructive reforms that will transform its oil and gas economy. Through this inaugural Angola Oil & Gas Conference and Exhibition, we are proud and honored to play a role as a catalyst for new investment in one of Africa’s leading oil producers. The potential is vast and undeniable and we believe the country’s best days lie ahead.”
Other highlights included a keynote speech from Total CEO Patrick Pouyanné and a keynote presentation by ExxonMobil’s Senior VP of Upstream Oil & Gas Deepwater Hunter Farris.
The Angola Oil & Gas conference continues at the CCTA in Luanda until Thursday 6 June.