{"id":21705,"date":"2022-11-30T07:00:17","date_gmt":"2022-11-30T07:00:17","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/full-speech-by-joao-lourenco-at-the-opening-of-the-3rd-edition-of-the-angola-oil-gas-conference"},"modified":"2022-11-30T08:33:39","modified_gmt":"2022-11-30T08:33:39","slug":"full-speech-by-joao-lourenco-at-the-opening-of-the-3rd-edition-of-the-angola-oil-gas-conference","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/full-speech-by-joao-lourenco-at-the-opening-of-the-3rd-edition-of-the-angola-oil-gas-conference","title":{"rendered":"Full speech by Jo\u00e3o Louren\u00e7o at the opening of the 3rd edition of the Angola Oil & Gas Conference"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The President of the Republic, Joa\u0303o Lourenc\u0327o, yesterday (29 November) opened the third edition of the Angola Oil & Gas conference and exhibition.<\/b><\/p>\n

Speech by His Excellency Joa\u0303o Lourenc\u0327o, President of the Republic of Angola, at the Third Edition of the Angola Oil & Gas 2022 Conference and Exhibition<\/p>\n

Members of the Angolan Executive and Parliament;<\/p>\n

Gentlemen Representatives of Companies in the Oil sector or connected to it;<\/p>\n

Honorable Members of the Diplomatic Corps accredited in Angola;<\/p>\n

\u2043 Dear Guests;<\/p>\n

\u2043 My Ladies and Gentlemen;<\/p>\n

It was with great satisfaction that I accepted the invitation to chair and open this event.<\/p>\n

Allow me to greet everyone present at this ceremony and congratulate the Ministry of Mineral Resources, Oil and Gas and the company Energy Capital Power for organizing this third edition of the Angola Oil & Gas 2022 Conference and Exhibition, which takes place under the motto “Promote an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola”.<\/p>\n

This conference is of great importance and takes place at a time when the international geopolitical situation has created numerous distortions in international commodity markets, including oil and natural gas.<\/p>\n

Excellencies; Ladies and Gentlemen;<\/p>\n

Angola aspires to be a globally competitive hydrocarbon producer, contributing to global energy security, starting with alleviating energy poverty in Africa, while stabilizing global markets.<\/p>\n

Since the beginning of our first term, the Government has worked tirelessly to establish an attractive and competitive regulatory environment, establishing market-oriented policies and tax regimes. In this respect, efforts were primarily directed towards the growth of oil activity, in line with the potential of existing reserves.<\/p>\n

To mitigate the main constraints found, the Government redefined the governance model of the oil sector, which allowed the stratification and definition of the role of each entity, particularly in matters related to superintendence, concessionaire, regulation, inspection and operation.<\/p>\n

In these terms, the National Petroleum, Gas and Biofuels Agency (ANPG) was created, as the national concessionaire responsible for regulating, promoting and supervising the execution of petroleum activities, and the Petroleum Derivatives Regulatory Institute (IRDP).<\/p>\n

Parallel to the creation of the aforementioned bodies, SONANGOL was given the role of a public company focused on its main corporate purpose, which comprises the entire value chain of the oil industry, namely prospecting, research, production, refining, transport, storage, distribution and sale of oil, natural gas and derivative products.<\/p>\n

This new governance model provided greater transparency and competitiveness to the sector, making it more attractive for attracting national and foreign investment, which allowed, despite adversities such as the COVID-19 Pandemic, to maintain national oil production above one million and one hundred thousand barrels of oil per day in the last five years.<\/p>\n

In order to guarantee an increase in oil production in the coming years, the Executive has defined important measures to be taken, such as:<\/p>\n

The Bidding Strategy for New Oil Concessions for the period 2019-2025, which aims to award at least 50 new blocks, of which 20 have already been awarded;<\/p>\n

The Hydrocarbon Exploration Strategy for the period 2020-2025, which aims to boost and intensify the replacement of reserves; The Permanent Offer Regime for Oil Blocks, which allows for the permanent promotion and negotiation of non-adjudicated bid blocks, free areas in concessioned blocks and concessions attributed to the national concessionaire.<\/p>\n

The Angolan Government has defined and is implementing a Refining Strategy and a program to improve the distribution of petroleum derivatives, which includes increasing storage capacity on land and building fueling stations in all municipal capitals.<\/p>\n

The Refining Strategy includes the expansion of the Luanda Refinery with the installation of a new catalytic reforming unit, which has quadrupled gasoline production and the construction of three new refineries, in Cabinda with a processing capacity of 70,000 barrels per day, in Soyo, with a processing capacity of one hundred thousand barrels per day and in Lobito with a processing capacity of 200,000 barrels per day.<\/p>\n

A large part of the equipment for the Cabinda Refinery is already on the ground where the civil construction work is taking place, with completion of its first phase expected at the end of 2023, which will guarantee a processing capacity of 30,000 barrels per day.<\/p>\n

As for the Soyo Refinery, after the signing of the investment contract, the first stone for its construction was laid, with preliminary work being carried out to prepare the land where the refinery will be built, while the promoter is finalizing the requirements for the signing of the financing agreement.<\/p>\n

On the other hand, SONANGOL was instructed to proceed with the construction of the Lobito Refinery, with the project’s engineering optimization and financial viability studies currently being carried out, while preservation work on the infrastructures already built on the ground is ongoing.<\/p>\n

As for the storage of liquid fuels, floating storage was eliminated, storage capacity on land was expanded and the first phase of construction of the Oceanic Terminal at Barra do Dande is being implemented.<\/p>\n

These combined actions will allow the country to have a storage capacity of over one million cubic meters of liquid fuel.<\/p>\n

The liberalization of the oil derivatives sector has opened up space for more operators to develop the activity of logistics, distribution and commercialization of refined products, which is why our Executive appeals to valued investors to look into this business opportunity.<\/p>\n

Excellencies; Ladies and Gentlemen;<\/p>\n

Presidential Legislative Decree n\u00b0 7\/18 of May 18th, approved during our first mandate, establishes the legal and tax regime applicable to exploration, production and sale of natural gas not associated with oil.<\/p>\n

Based on this Legal Diploma, structuring natural gas projects are being implemented, with particular emphasis on the New Gas Consortium, whose main objective is to guarantee the continuous supply of this product to the Angola LNG factory and the Combined Cycle Thermal Power Station in Soyo and sustain the implementation of other industrial projects, such as petrochemicals, fertilizer factories, steelworks and others.<\/p>\n

The Angolan Government is concluding a “Master Plan for Natural Gas”, which will define the bases for leveraging the potential of Angola’s natural gas resources, over a period of around thirty years, in order to guarantee the creation of jobs and the generation of revenue for the state.<\/p>\n

Excellencies; Ladies and Gentlemen;<\/p>\n

The Executive is aware of the seriousness of the global climate crisis and, therefore, we continue to adopt measures to mitigate the challenges posed by the increase in temperatures, caused by greenhouse gas emissions.<\/p>\n

We will work with our partners to decarbonise our oil industry, reduce polluting gas emissions and other more recent techniques such as capturing and storing carbon at safe depths in the ocean.<\/p>\n

Bearing in mind climate change and growing environmental concerns, the energy transition to a low-carbon economy is a theme present in the current strategy for the oil sector, which is perfectly aligned with the Executive’s strategy.<\/p>\n

Those involved in oil and gas prospecting, exploration and production activities were instructed to adopt measures to mitigate and compensate greenhouse gas emissions, among which we highlight the elimination or reduction of gas flaring, the adoption of less polluting operating equipment, the protection and conservation of flora and fauna and reforestation.<\/p>\n

We believe that the actions of the oil sector should promote the sustainable exploitation of fossil energy resources and use part of its profits and technical capacity to gradually encourage and strengthen the emergence of an industry of renewable energy sources, such as solar, wind, biomass and others.<\/p>\n

SONANGOL-EP, based on partnerships with international oil companies, namely ENI and Total Energies, are engaged in the construction of Photovoltaic Plants in Caraculo and Quilemba in the provinces of Namibe and Hui\u0301la, respectively, which should contribute with clean energy in the energy matrix national.<\/p>\n

On the other hand, SONANGOL-EP has established partnerships with German companies in order to develop green hydrogen production projects at its Research and Development Center in Sumbe, Cuanza Sul, which will contribute to the diversification and sustainability of its business portfolio, as well as how to contribute to promoting the socio-economic development of the country in the field of renewable energies.<\/p>\n

Excellencies; Ladies, Gentlemen;<\/p>\n

Presidential Decree No. 271\/20 of October 20, known as the Local Content Law for the Oil Sector, is a legal instrument aimed at recruiting, integrating, training and professional development of Angolan staff and technicians and the insertion of Angolan companies into the provision of services and supply of domestically produced goods in the oil sector.<\/p>\n

The Ministry of Mineral Resources, Oil and Gas and the National Agency for Oil, Gas and Biofuels are responsible for supervising and ensuring the implementation of this Legal Diploma.<\/p>\n

However, we will only have the desired success if the public sector, operators, acting as investors and local content companies all participate harmoniously in its implementation.<\/p>\n

I would therefore like to take this opportunity to appeal to all actors in the oil sector to pay special attention to young graduates, creating conditions for their insertion in the labor market or, at the very least, guaranteeing the conditions for internships curricula and professionals.<\/p>\n

Excellencies; Dear Guests; Ladies and Gentlemen;<\/p>\n

Angola is open to national and foreign private investment, proposing fair contractual and fiscal terms and conditions for all those who intend to invest in our country.<\/p>\n

We assume the responsibility of continuing to work closely with the Organization of Petroleum Exporting Countries (OPEC) and the Organization of African Petroleum Producers (APPO), as well as other international organizations, to maintain the sustainable development of our petroleum resources, contributing to the transition energy and the diversification of the national economy, in order to maximize the benefits for Angolan society and ensure the return on investments made.<\/p>\n

Excellencies; Dear Guests; Ladies and Gentlemen;<\/p>\n

Finally, allow me to welcome all participants to this third edition of the Angola Oil & Gas 2022 Conference and Exhibition, an event whose main focus is to ensure the capture of new investments to boost sustainable development throughout the industry chain national oil company.<\/p>\n

By bringing together national, regional and global decision-makers and investors, we hope that this event will serve as a platform to promote robust discussions and establish agreements that can contribute to the greater development of our oil sector.<\/p>\n

With these words, I declare open the third edition of the Angola Oil & Gas 2022 Conference and Exhibition.<\/p>\n

Thank you very much!<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The President of the Republic, Joa\u0303o Lourenc\u0327o, yesterday (29 November) opened the third edition of the Angola Oil & Gas conference and exhibition. 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