Talatona - The CEO of the State oil company Sonangol Gaspar Martins reaffirmed on Thursday that the Angolan market remains competitive due to its openness in dealing with international partners.
Speaking to the press during the 5th Oil and Gas Conference that ended on Thursday, Martins said this openness places Angola among the countries that will continue to be relevant for responsible oil and gas exploration.
“We are maintaining this exploration without losing sight of climate change issues, which remain on our agenda. We will continue to produce with sustainability in mind,” he said.
Regarding the production target for 2024, Martins said Sonangol expects to exceed 1.1 million barrels of crude oil per day, underlining that the company currently contributes an average 200,000 barrels of oil a day to national production.
The head of the Angolan Oil Industry Service Providers Association (AECIPA), Bráulio de Brito, on his turn pointed out that production increase will require new technologies, greater financial capacity and the re-establishment of reserves.
Braulio praised the improvements made in the regulatory framework as an essential factor to attract more investment and develop new production fields.
The conference held under the theme “Innovation and Sustainability in Angola's Energy Sector”, included talks on female leadership in the sector and local content strategies to train Angolans.
The 5th Oil and Gas Conference brought together more than 200 participants, among entrepreneurs, investors and experts from 45 countries and 68 companies.
GIZ/MDS/AMP
