Cabinet Council discusses proposal on incentives for Oil Block 20/11

Angolan government discussed Monday a Draft Law that authorises the President, as holder of the Executive Power, to legislate on the incentives to be attributed to the concession area of Block 20 /11.

This was during the meeting of the Cabinet Council, chaired by the head of State João Lourenço on Monday in Luanda.

The members of the Cabinet Council reviewed the Draft Presidential Legislative Decree on norms that will regulate the attribution of new incentives to prospecting, research, evaluation, development and production of hydrocarbons in the concession area of the Block 20/11.

Also in the oil and gas sector, the session endorsed the Presidential Decree approving the Amendment to the Concession Area Contract, also for Block 20/11.

The move is meant to integrate the areas of Blocks 21/09 and 20/15 into the said concession zone, with a view to enabling their economic development, as well as enabling the transformation of oil potential into commercial wealth and mitigating the decline in crude oil production.

The participants also approved the Presidential Decree on Amendments to the Production Sharing Contract for Block 20/11, in order to ensure the implementation of the terms and conditions agreed in the addendum to the Production Sharing Contract for Block (20/11).

This is an addendum to the contract signed by the National Agency for Petroleum, Gas and Biofuels, Total Energies, EP Angola and Sonangol Pesquisa e Produção, S.A.

The Monday’s meeting also considered the Presidential Decree approving the Production Sharing Contract between the National Concessionaire (Sonangol) and the Empreiteiro Group made up of Azule Energy Angola B.V. and Equinor Angola Block 31/21 AS.

The Decree provides for the associated development of petroleum activities in this area of the Lower Congo maritime zone.

Mining Prospecting Rights

Still in the field of oil and gas, the members approved the Presidential Decree that enables the Attribution of Mining Rights for Prospecting, Research, Development and Production of Liquid and Gaseous Hydrocarbons in the Concession Area of Block 16/21.

The approval focuses on the joint exploration of the said Block, based on the Production Sharing Contract signed between the National Concessionaire and TOTAL Energies EP Angola.

Exploration of Fuel Filling Stations

The meeting also gave green light to the Presidential Decree approving the Regulation on the Issuance of Licenses for the Exploitation of Fuel Filling Stations.

The document establishes the norms and procedures for issuing a license to operate a Fuel Filling Station, for commercial purposes, and implementation of the measures defined in the SIMPLIFICA 2.0 Project, as part of the State Reform.

The document also ensures the transfer to the Municipal Administrations of competence to issue operating licenses for Fuel Supply Stations with a storage capacity of up to 200 cubic meters and to extend the period of validity of the license should be implemented.

Price regime related to the concession area of the new Natural Gas Consortium

The Cabinet Council approved a Presidential Decree that establishes the transfer pricing regime applicable to certain commercial operations in the Concession Area of the New Natural Gas Consortium.

The focus of the Decree is the stability and economic viability of the project, through the creation of fiscal contractual rules that meet the economic and commercial specificities of the transactions associated with the Project.

Bilateral cooperation

As for bilateral cooperation, the meeting approved the Agreement between Angola and the International Criminal Police Organisation (Interpol) on Privileges and Immunities, for Hosting the 26th Interpol African Regional Conference, this year.

In the field of education, the meeting approved the diplomas referring to the Legal regimes of the General and Secondary Technical-Professional Education Subsystem.

The 5th ordinary session of the Cabinet Council also approved the Organic Statute of the National Service for Copyright and Related Rights (SENADIAC), Body of Indirect State Administration.

SENADIAC is in charge of the administrative management of the National System of Copyright and Related Rights and ensures compliance with legislation on the matter.

The objective is to provide culture creators and other agents with the enjoyment of the corresponding rights, for the well-being of all, thus promoting creativity and innovation and boosting the development of cultural and creative industries

Source: Angola Press News Agency