“Angola needs more oil exploration, including in marginal fields to stem decline in production” – AEC

There’s so much excitement about where Angola’s energy sector is headed. Sergio Pugliese, a successful entrepreneur and oil executive, is really hyped and enthused about recent developments and future direction of his country’s energy sector. Angola is ranked second largest oil producing country in Sub-Saharan Africa and an OPEC member with an output of approximately 1.55 million barrels of oil per day and an estimated 17,904.5 million cubic feet of natural gas production.

Production levels in Angola are expected to soar by 2020 following the country’s restructuring, including the reorganization of the state oil company Sonangol. In addition to a drastic revision of Angola’s legislation related to oil and gas, the government’s intent is to spur growth in the sector, encouraging exploration in development areas, improving operation efficiencies, reducing taxes, empowering the private sector, and attracting investors. Since the 2017 elections, Angola’s oil and gas sector has been featured in numerous conferences aimed at linking top government officials with the global energy industry.

The African Energy Chamber (AEC), the continent’s voice for the ongoing change and progression in the African energy industry recently named Sergio Pugliese as the AEC’s President for Angola. The appointment will be the first of many to follow across the continent as the AEC guides local content development that will enable African companies to grow and take the lead in the development of their continent. In an official statement, Pugliese notes:

“It is with great sense of responsibility towards Angola and the African Energy Chamber that I am assuming this new function. Angola is reforming is very fast and the need to provide accurate information and guidance for investors doing business in Angola is growing”. Prior to being named the AEC’s President for Angola, Sergio Pugliese most recently worked with BP and Statoil as top executive before founding Angola-focused oil and gas services companies Motiva LDA and Amipha LDA.

 

Source: AEC

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