Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas on Thursday, said the country had changed its legislation to increase oil output.
According to Azevedo, the country wants to restart the bidding of new blocks, increase oil output, and stabilise its hydrocarbon production.
The minister said the country acknowledged that oil production was in decline due to a lack of investment in recent years, and so had managed to change the legislation to restart bidding for new blocks and increase oil exploration.
The minister added that Angola was to host from May 16 to 19 the 8th edition of the African Petroleum Congress and Exhibition (CAPE VIII), an event that brings together member countries of the African Petroleum Producers’ Organisation (APPO).
The CAPE is the largest and the most influential oil and gas event in Africa, which seeks to provide investors the opportunity to have deeper information and knowledge of the oil and gas industry in Africa.