Luanda - The Minister of Mineral Resources, Oil and Gas, Diamantino de Azevedo, reiterated on Tuesday in Cape Town, South Africa, the country's openness to foreign investment.
'Angola is open to foreign investment. We offer fair and competitive contractual and fiscal terms and conditions, advocating a 'win-win' relationship for all those who wish to invest in our country. All of you are welcome to come to Angola and see for yourselves,' he said.
The minister was speaking at the opening of the second day of the 'African Energy Week' Conference, taking place from 4 to 8 of this month, in this South African city, under the motto 'energy growth through a favourable environment', according to a note from the above said ministry to which ANGOP had access.
According to the minister, Angola is committed to transparency in all extractive activities, which is why it joined the EITI (Extractive Industry Transparency Initiative) and recently presented its second report.
He highlighted the country's commitment to promoting best practices in reducing emissions in the production of hydrocarbons.
'I am pleased to be able to say that our operators have reacted positively to this situation and are reducing emissions step-by-step,' he said, highlighting Azule Energy, one of the operators that is currently building the Agogo FPSO, planned to be the world's first green FPSO vessel that will incorporate carbon capture and storage (CCS) capacities with the aim of significantly reducing the amount of CO2 emitted.
According to Diamantino de Azevedo, some measures will have a long-term effect, such as the development of the Kaminho Project by TotalEnergies and its partners and activities in the Namibe Basin in southern Angola, where ExxonMobil is executing its first exploration well.
He said he believes that a healthy oil and gas sector in Angola is good for sustainable socio-economic development, as well as for global energy security.
Diamantino de Azevedo also spoke about the 'Natural Gas Master Plan' that the Government is concluding to define the bases to leverage the potential of Angola's natural gas resources, in order to ensure the creation of jobs and the generation of revenue for the State and socio-economic development of the country.
He also reaffirmed the commitment of the Angolan Government to the energy transition, mentioning the need to continue and explore oil and gas, 'responsibly' for the benefit of Angolans, taking into account the socio-economic reality.
“The Angolan Government has worked tirelessly to establish an attractive and globally competitive regulatory environment, establishing market-oriented policies and tax regimes”, informed the official, adding that efforts have been directed mainly towards the growth of the oil industry, but with the ultimate goal of creating wealth and prosperity for all Angolans.
The African Energy Week (AEW) conference is an annual event of the African Energy Chamber that brings together leaders from this branch of the continent, global investors and executives from across the public and private sector on the future of the African energy industry.
Likewise, it promotes the role that Africa plays in global energy issues, focusing on dialogue and decision-making led by the continent.
Angola “winks” at South African mining companies
On the other hand, the Ministry of Mineral Resources, Oil and Gas is holding a forum on Wednesday in Johannesburg, South Africa to attract mining investment.
According to a note from the department, more than a hundred companies, including mining business representatives, are registered for the event that will be chaired by minister Diamantino de Azevedo.
The companies De Beers and the cutter Messica will give “endorsement” speeches, which aim to convey their experiences in Angola to participants.
The national director of mineral resources, Paulo Tanganha, will present the legal and fiscal environment and the unique opportunities that the country offers for the establishment of mining businesses, while Djanira Santos, administrator of the National Mineral Resources Agency (ANRM), will address the mining areas under promotion, corresponding to brown field and green field.
It is expected that the minister will launch, once again, an appeal for mining companies to invest in Angola, an attractive country with enormous resources to be discovered and explored. VC/DOJ