Angolan state-held oil and gas company Sonangol has submitted to the Ministry of Mining Resources and Oil a list of 54 affiliates in its group that are ready to be privatized. They account for approximately one third of the company and include assets that do not fit the company’s main objective. Angola is currently restructuring its oil and gas sector to reduce the bureaucratic load surrounding oil concessions and help increase crude production, which had a 5% drop in 2017.
At the end of August 2018, the government announced the establishment of a new oil regulator, the National Agency of Petroleum and Gas. The new body will be in charge of all oil and gas concessions, a task that is currently one of Sonangol attributions. The agency will also be responsible for leading bidding rounds, managing production agreements and representing the state on profit sharing. The agency will begin its operations before July 2019 and the reorganization is scheduled for completion in 2020.
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