The President of the Republic, João Lourenço, stated at the 5th Edition of the Angola Oil & Gas Conference that the Angolan Government is committed to the sustainable exploration of oil and gas and encourages the transition to renewable energy.

The Head of State argued that the sector’s actions should promote the sustainable exploitation of fossil energy resources and use part of its profits and technical capacity to foster the emergence of an industry of renewable energy sources, such as solar, wind, green hydrogen, biomass, and others.

“Those involved in oil and gas exploration and production activities have been instructed to adopt measures to mitigate and offset greenhouse gas emissions, including the elimination or reduction of gas flaring, the adoption of less polluting technology and operational equipment, the protection and conservation of flora and fauna, as well as the implementation of programs for the creation of forests or reforestation,” said the Head of the Executive Branch.

For Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, the sector will focus on the sustainable replenishment of reserves and the continuity of production.

“The fair energy transition must safeguard the use of all existing energy sources, giving oil and gas producing countries the possibility to continue developing their resources, focusing their efforts on exploration and development activities to ensure a sustainable replenishment of reserves and the continuity of production, thus promoting their economic growth and development”, said the Minister.

Hydrocarbon exploration and production are essential to drive the energy transition process. In this regard, the Chairman of the Board of Directors of the National Oil, Gas and Biofuels Agency, Paulino Jerónimo, highlights the importance of ensuring production efficiency.

“When we compare investments from 2022 to 2023, we grew by 96%. In 2022 we had an average of 7 billion dollars in investments and in 2023 we had almost doubled, around 14 billion dollars. This proves that our sector is dynamic, it is active and it also proves the confidence of our investors in the political reforms of the Angolan Executive”, said Paulino Jerónimo.

In addition to the participation of members of the ANPG Board of Directors during the Plenary, the National Concessionaire was represented with a stand where it presented the various business opportunities in the sector. Angola Oil & Gas is an organization of Energy Capital Power and has the institutional support of ANPG, the Regulatory Institute for Petroleum Derivatives, and Sonangol.