Angola hosts 2nd African meeting on local content in oil and gas sector

Luanda – The second conference on Local Content in the oil and gas industry of the African continent will be held for the second time in Luanda on the 26th and 27th of November.

According to a press release from the Ministry of Mineral Resources and Petroleum that ANGOP had access Wednesday the conference will address geopolitical, strategic, technical, legal and financial aspects inherent to the promotion of Local Content in the oil and gas industry in Africa.

The event will bring together member countries such as Angola, Algeria, Benin, Cameroon, Congo, DRC, CAte d’Ivoire, Egypt, Equatorial Guinea, Gabon, Ghana, Libya, Mauritania and the United States of America, Niger, Nigeria, South Africa, Sudan and Chad.

The event will also be attended by oil companies and service providers to the oil and gas sector.

Angola, which has been producing oil since 1955, is implementing its Local Content program and has set up the sovereign fund to ensure that oil revenues are directed to developing other sectors of the economy.

Domestic oil production contributes about 38 percent of Gross Domestic Product (GDP) and 93 percent of exports.

Angola hosted in 2016 the first conference and exhibition on Local Content in the oil and gas industry in Africa, an initiative that will provide the local development of the oil and gas industry in Africa.

Source: Angola Press News Agency