The oil sector has been one of the fastest-growing industries in Angola in recent years, making a significant contribution to the national economy, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo.
Speaking on the sidelines of the launch of the book “History of the Petroleum Sector in Angola”, Azevedo stated that oil remains one of the most developed sectors in the country and continues to be the main contributor to Angola’s GDP, playing a crucial role in the nation’s economic stability.
The minister highlighted key projects that have had a substantial impact on the economy, particularly the implementation of a new governance model for the oil sector, as well as fiscal and legislative reforms.
These measures, he said, have helped stabilize oil production at around one million barrels per day.
He also noted that the recent approval of a new oil exploration strategy and the enactment of the Gas Law will soon enable the country to begin producing non-associated gas.
Among recent achievements, the minister cited the inauguration of the Barra do Dande Ocean Terminal and ongoing investments in the production of ammonia and urea—key components of fertilizer—derived from natural gas.
