Exploration & Production

Angola fires first salvo of petroleum reforms

The first significant piece of legislation passed under Angola's new president will speed up the country's licensing process The first significant piece of legislation passed under Angola's new president will speed up the country's licensing process.
By Felix Janvrin 17 April 2018 0 30463
Angolan President João Lourenço at his inauguration in 2017. (PA)

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...