Africa-Press – Angola. President João Lourenço highlighted on Wednesday, at the opening of the 6th International Oil and Gas Conference, the central importance of the oil sector in Angola’s development over the last five decades.
According to the Head of State, the oil industry has been a fundamental pillar of the national economy, ensuring the collection of revenues that, in turn, have contributed to the implementation of social programs and the improvement of the population’s living conditions.
He stressed the oil sector’s decisive role for Angola’s growth, not only because of its economic relevance, but also due to its impact on the country’s social transformation.
The President reaffirmed the government’s commitment to diversify the economy and ensure that oil and gas resources are used in a sustainable and transparent manner, in order to consolidate the gains already achieved and prepare the country for future challenges.
According to the president, the Angola Oil and Gas Conference and Exhibition is also a strategic platform for promoting investment, strengthening partnerships, and sharing experiences across the sector’s value chain.
João Lourenço recalled that, five decades ago, the Angolan people won the right to dream of a future of their own, shaped by determination, hard work, and resilience.
He emphasized that, shortly after National Independence in 1975, decisive steps were taken to develop the sector, with the creation of the National Fuel Company of Angola (Sonangol) in 1976 and the approval of the first Petroleum Activities Law in 1978.
These legal instruments, combined with the recruitment, training, and integration of national staff, enabled the consolidation of the oil and gas industry, which continues to play a prominent role in the national economy.
“The main purpose of the valiant nationalists who won our independence was to provide a better life for all Angolans. The exploration and production of mineral resources, with an emphasis on oil, has made it possible to collect revenues that sustain development and contribute to improving the living conditions of the population,” said the President.
João Lourenço stressed that the celebrations of the 50th anniversary of National Independence also represents a moment of reflection on the need to ensure that natural resources benefit future generations more effectively, balancing economic growth, social justice, and environmental protection.
He underscored Angola’s need for more investment, knowledge transfer, and innovation to promote sustainable resource exploitation, the development of local content as a factor of competitiveness, and the use of renewable energies, ensuring that the oil sector continues to contribute to improving the quality of life of citizens.
The statesman recalled that, at the beginning of its first term in 2017, the government approved a set of legal instruments aimed at responding to the challenges of the sector and creating a competitive business environment capable of attracting private investment.
João Lourenço said the governance model for the oil sector has been redefined, making the actions of the different entities involved in supervision, concession, regulation, inspection, and operation clearer and more effective.
The conference, which brings together government officials, business leaders, and energy sector experts, aims to discuss the new challenges facing the oil and gas industry in the context of the global energy transition.
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