Presidential Decree No. 52/19 approving the General Strategy for the Allocation of Petroleum Concessions for the period 2019-2025.

This Presidential Decree approves the the General Strategy for the Allocation of Petroleum Concessions for the period 2019-2025. The Strategy, consisting of eight sections and one Map listing the above mentioned allocation, should cover the achievement of the following macro and long-term objectives: promote the expansion of geological knowledge of the country and its oil potential; increase oil and gas production in the Republic of Angola; encourage competition in the Oil Industry and risk investment, ensuring fair remuneration and return; promote Foreign Direct Investment (FDI) in the National Oil Industry, disseminating universally accepted knowledge, technological innovation and governance practices; promote the exploitation of natural gas, through the inclusion of minimum programmes dedicated to this resource within the general scope of the Oil Bidding. The related specific objectives are: ensure the replacement of reserves, promoting the exploitation activity in a rational and adequate manner; put in place measures suitable for the confirmation of the country's oil potential; provide enough crude oil to meet domestic refining capacity, by weighing the economic viability of the export versus import.