Angolan President João Lourenço has issued a decree to speed up the licence acquisition process for IOCs in his country, marking the first significant piece of petroleum sector legislation passed under his tenure.
Presidential Decree 86/18, dated 2 April, eliminates prequalification phases for all new acreage allocated by state petroleum company Sonangol. The government recognised that previous application processes and their associated response times added as much as an extra year to the acquisition process.
According to Maja Bovcon, a senior analyst at Verisk Maplecroft, “the fact...
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