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ARTICLE · 21 AUGUST 2019

Oil And Gas Developments

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Below we provide details on two recent significant developments pertaining to Angola's oil and gas sector.

AngolaEnergy and Natural Resources

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.)

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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.

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