Luanda:The minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, announced the reactivation of onshore oil production in the country, which will soon involve 88 new blocks. This initiative aims to maximize the value of locally produced crude oil.
According to Angola Press News Agency, the announcement was made during the opening of the 5th Legislative Session of the National Assembly. The minister also revealed the resumption of construction at the Lobito Refinery in Benguela Province, which is expected to have a processing capacity of 200,000 barrels of oil per day.
Azevedo highlighted the country's recent increase in diamond production, citing the start of operations at the Luele project in Lunda-Sul Province. He also noted advancements in diamond polishing, mentioning the establishment of the Saurimo Diamond Development Hub, which hosts several polishing plants.
The minister further emphasized that sectoral policies have led to more international companies prospecting for critical minerals essential for the energy transition. He also announced the imminent commissioning of Angola's first gold refinery, located in Luanda's industrial hub. This facility, funded by the National Diamond Company of Angola (ENDIAMA) and Geoangol, will have the capacity to process up to 25 kilograms of gold daily.
