Oil Industry Keeps an Eye on Angola with Top 25 Movers and Shakers to Watch list
The latest Top 25 Movers & Shakers Watch List released earlier this week by the African Energy Chamber highlights how important 2021 will be for the Angolan oil & gas industry. Sub-Saharan Africa’s second biggest oil producing nation has been surfing on a wave of ambitious reforms since 2018 which could prove very beneficial to put the country back on a path to recovery in 2021.
H.E. João Lourenço, President of the Republic of Angola, made it to the list for the first time after several years of reforming the industry and making it one of the most competitive on the continent. Via several presidential decrees signed in 2018, 2019 and 2020, the President has truly revived Angola’s hydrocarbons sector and its attractiveness for investors. As Angola recovers from the shock of the Covid-19 pandemic and yet another economic crisis, President Lourenço’s leadership is more important than ever to further support sector recovery and boost local content development.
The country’s industry will also be marked by key offshore projects expected to move forward in 2021 and notably led by international majors Total and Eni. Nicolas Terraz, President for Africa at Total Exploration & Production, is another executive who made it to the Chamber’s TOP 25 for 2021. His piloting of key projects across the continent, especially in Eastern and Southern Africa, will be closely watched next year. This notably includes several brownfield expansions in deep water acreages in Angola, and the planned drilling of the world’s deepest well in Block 48.
Guido Brusco, listed for the second year in a row, will be another key figure able to impact the future of Angola’s oil sector. Recently promoted Director of Eni’s global upstream portfolio, Guido has a long experience in Africa and strong understanding of the continent’s dynamics and opportunities. As he makes strategic decisions to rationalize Eni’s upstream spend, the future of major Angolan assets like Block 15/06 is on the line.