Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, extended an invitation to Chinese entrepreneurs in Beijing on Saturday, March 16th to consider investing in the country’s hydrocarbon sector.
The Economic Forum organized by the Ministry of Mineral Resources, Oil, and Gas (MIREMPET) in China showcased investment prospects in Angola’s oil and gas industry, garnering significant interest from Chinese firms and investors.
In his address, Minister Azevedo emphasized the diversity of investment opportunities, ranging from onshore concessions to deepwater exploration, suitable for investors of all sizes.
He proposed a strategic partnership between Chinese enterprises and the National Oil, Gas, and Biofuels Agency to identify exploration areas and facilitate hydrocarbon production.
Azevedo highlighted Angola’s stability and attractiveness to Chinese investors, citing examples of existing collaborations, such as Chinese involvement in upstream activities and the construction of a floating production, storage, and unloading unit (FPSO) for a major oil project.
Moreover, he underscored the government’s reforms aimed at enhancing the business environment and maintaining Angola’s status as a prime investment destination.
The ongoing Petroleum Block Bidding Strategy 2019-2025, which has already allocated numerous blocks with additional rounds underway, further underscores Angola’s commitment to fostering investment in the sector.
The event also shed light on Angola’s initiatives for energy transition, its membership in the Extractive Industries Transparency Initiative (EITI), and ongoing natural gas projects, including the development and monetization of existing gas fields through LNG or ammonia/urea projects, with the participation of Chinese entities.
