28 December 2017

Angola: New Law Encourages Oil Prospecting Work

Luanda — The draft-law on premiums award to stimulate production and investment in the oil sector, analysed last Wednesday by the Cabinet Council, in Luanda, is intended to cause the resumption of prospecting activities of hydrocarbons in Block 48.

According to the minister of Mineral Resources and Oil, Diamantino Azevedo, who spoke to the press in the end of the mentioned Cabinet Council session, chaired by President João Lourenço, the country's public oil company, Sonangol, since 2015 detains the concession rights for Block 48, located in the Angolan ultra deep waters.

"We'll move on to the prospecting and research stage to see if we can obtain positive results in the future in a new exploration block", he explained.

Meanwhile, early this month, the national concessionaire, Sonangol, and the multinational company Total signed in Luanda several agreements for the re-launch of oil production in several of Angola's oil fields, with highlight on Block 48.


Angolan Air Force Rebuilding Process Highlighted

The Minister of State and Head of the Security House of the President of the Republic, Pedro Sebastião,… Read more »

Copyright © 2017 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.