Luanda, Sept. 16, 2023: Angolan Minister of State for Economic Coordination has emphasised the crucial role of the oil and gas industry for the country’s economy and pledged continued investment in petroleum resource exploration.
Speaking at the fourth edition of the Angola Oil & Gas Conference and Exhibition 2023 (AOG2023) in the Angolan capital of Luanda, Jose de Lima Massano highlighted the petroleum sector’s fundamental role in shaping and transforming Angola’s economy.
The minister said it was necessary to continuously maintain the sector’s competitiveness for the country, which serves as a “catalyst” for Angola’s social transformation.
“We should not cease making the necessary investments to ensure that natural resources, including oil, can continue to be explored,” he said.
The AOG2023 participants includes Organisation of the Petroleum Exporting Countries (OPEC), as well as African ministers and international experts from the sector.
Regarding greenhouse gas emissions, the Angolan top economic official acknowledged that petroleum activities would continue to affect this process.
The current strategy is centered on reducing emissions.
“This effort to reduce greenhouse gas emissions should also be carried out consciously and adapted to the reality of each country,” said the official, reaffirming Angola’s strong commitment to these reductions.
In July, oil production in Angola was around 1.15 million barrels per day, positioning Angola as the second-largest oil producer in Africa, surpassing Nigeria and trailing only behind Libya, according to data from the OPEC.
