Below we provide details on two recent significant developments pertaining to Angola's oil and gas sector.
Government to Divest in Oil and Gas Companies
As part of a previously announced privatization program, the government of Angola has announced its intention to sell whole or partial stakes in the oil and gas companies Sonangol and China Sonangol International. These are among approximately 195 companies that the government is divesting in, and the sales are expected to take place between 2019 and 2022 through a mixture of public tenders, public auctions and IPOs. Among the other notable companies involved in the program are Endiama (diamonds), TAAG and Sonair (aviation), BCI BAI and Banco Económico (banks), ENSA (insurance), MS Telecom and Unitel (telecommunications), Sonatide and Technip Angola (oil services) and Sonangol Sonangalp (refined oil products). (See a list of companies.)
Roadshows to Promote Upcoming Bid Round
Angola's recently created national oil and gas agency (ANPG) has announced a series of "roadshows" to be held in Luanda, Houston, London and Dubai to promote the nation's upcoming bid round for 10 exploration blocks in the Namibe and Benguela basins.
- Blocks 11, 12, 13
- Blocks 27, 28, 29
- Blocks 41, 42, 43
- Blocks 10
At each roadshow, ANPG will discuss legal, tax and contractual considerations as well as the production potential of each block.
Luanda - September
Location: Talatona Convention Center
South Luanda - Republic of Angola, 132/203
Houston - September
Location: The Post Oak Hotel
600 W Loop S, Houston, TX 77027, USA
Register by Friday, September 6
London - September
Location: Intercontinental London Hotel
1 Hamilton Place, Park Lane, London, W1J7QY
Register by Friday, September 13
Dubai - September
Location: The Address Dubai Mall Hotel
Sheikh Mohammed Bin Rashed Boulevard, Downtown Dubai, 31166
Register by Thursday, September 19
To register for any of the roadshows, please send the name and job title of the person who wants to attend to this email address:
Confirmation of registration will be sent by email.
Originally published August 16 2019
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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.