Last year, the Government collected more than 900 million dollars in taxes with the Angola LNG (Liquefied Natural Gas) project, the Secretary of State for Oil and Gas said this Thursday.
José Barroso, who was speaking in parliament during the presentation of the bill authorizing the President of the Republic to legislate on changes to the tax regime for the Angola LNG project, said that the State is concerned with guaranteeing income in the process of extracting minerals and country’s oil and gas.
The official underlined that with the first two fields of the project, Kiluma and Maboqueiro, around 4 billion dollars will be invested by the State, with plans to recover around 10 billion dollars, plus fees.
“For example, right at the beginning of the project, in terms of industrial tax, the State will receive around 200 million dollars”, he pointed out.
“We would like to say that in terms of other taxes, linked to the oil production tax, oil income, gas surface tax and gas tax there will be in total over the life of the project, about 1.3 billion dollars to the State”, he added.
In addition to the financial benefits, José Barroso highlighted as advantages of the project the promotion of local content, with the inclusion not only of Angolan technicians and workers in the entire oil exploration and production process, as well as national companies providing services and supply of goods.
José Barroso highlighted that the Angola LNG project was initially conceived to avoid flaring gas and respond to environmental issues, always looking for some return for the State.
