Luanda – National Assembly (AN) Thursday (23) will discuss and vote on the Bill that authorises the President of the Republic, as holder of the Executive Power, to Legislate on the changes of the Tax Regime applicable to the Concession Oil company in the Maritime Zone of Cabinda (Block-0).
The National Assembly’s specialised commissions approved Wednesday the Joint Opinion Report of the Bill, which will be discussed and passed at the 4th Ordinary Plenary Meeting of the 1st Legislative Session of the V Legislature.
The Document aims to leverage the socio-economic development of the province of Cabinda, through the application of tax benefits with a direct impact on the local business and on the lives of the people, increasing the level of own income and improving people’s quality of life.
Block 0, where the Lifua A platform is installed, is located about 30 miles from the coast of Cabinda.
A total of four concessionaires operate in Block 0.
They are Cabinda Gulf Oil Company, a subsidiary of Chevron, Sonangol EP, Total Petroleum Angola Limited and ENI Angola Production BV.
Chevron is the second largest concessionaire in Block 0 after Sonangol EP. FMA/AL/ADR
Source: Angola Press News Agency