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ARTICLE · 02 APRIL 2019

Angola 2019-2025 New Concession Award Strategy

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With the aim of increasing oil and gas production in Angola, a new Concession Award Strategy for the 2019-2025 period has been approved by Presidential Decree 52/19, of February 18th.

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With the aim of increasing oil and gas production in Angola, a new Concession Award Strategy for the 2019-2025 period has been approved by Presidential Decree 52/19, of February 18th.

The general goals of the new strategy are:

  1. Expand geological knowledge of Angola and its petroleum potential;
  2. Increase hydrocarbons discoveries;
  3. Increase competition within the industry and encourage a fair return on investments;
  4. Promote direct foreign investment in the Angolan petroleum industry in order to expand local  know-how and international governance practices;
  5. Promote natural gas exploration through the inclusion of dedicated minimum work obligations when awarding new areas.

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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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