Africa Oil & Gas: Sonangol Out as Angola National Concessionaire

The moves by the Angolan government to replace state-run oil and gas firm Sonangol as the country’s concessionaire have borne fruit. As part of the country’s ongoing petroleum sector reform, President João Lourenco, created, by means of Presidential Decree 49/19, of February 6, 2019, the National Petroleum, Gas and Biofuels Agency (Agência Nacional de Petróleo, Gás e Biocombustíveis, or ANPG).

The decree makes ANPG the National Concessionaire for the petroleum sector, thus replacing the role played by Sonangol EP. This change implied the amendment of Sonangol EP’s by-laws, as approved by means of Presidential Decree No. 15/19, of January 9, 2019.

The ANPG, in the capacity of National Concessionaire for the petroleum sector, is granted the authority to award and manage oil and natural gas contracts; prepare public announcements and promote biddings for the award of exploration, development and production rights, as well as negotiate and execute the relevant contracts.

In addition, it will review and issue opinion on the transfer to third parties of more than 50% of the share capital of an associate of the National Concessionaire; audit the activities of oil operators, with a view to assess the risks and verify the technical, financial, legal and accounting compliance; and monitor all activities conducted under hydrocarbon exploration and production contracts.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: