H.E. Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas Introduction
A key figure in Angola’s energy sector, H.E. Diamantino Azevedo, Angola’s Minister of Mineral Resources has been instrumental in shaping the country’s oil and gas landscape through strategic policies and fiscal reforms. Since his appointment as the Minister in 2017, he has strategically positioned Angola’s oil and gas sector as a highly attractive and competitive investment destination. Through the policy reforms, he has prioritized increasing foreign direct investment and encouraging the participation of international companies in oil and gas exploration, production, and infrastructure development.
In the upstream sector, he is a pivotal figure in Angola’s transformative phase. Minister Azevedo focuses on solidifying the country’s status as one of Africa’s leading oil producers, with the country ranking as Africa’s number one oil producer in 2022 and today ranking as the continent’s second-biggest producer. With major players like TotalEnergies, Sonangol, ExxonMobil, and Chevron leading exploration campaigns in the Kwanza, Namibe, and Lower Congo basins, Minister Azevedo emphasizes the potential for growth and collaboration. Recent tax incentives, licensing rounds, and partnerships created with global upstream players highlight his commitment to drive the expansion of the upstream space.
In the downstream sector, the Minister has led Angola to deploy a series of industry-changing projects including upgrades to the Luanda refinery and the construction of new facilities in Cabinda, Soyo, and Lobito. Cross-border trade systems, such as the Central African Pipeline System and the Angola-Zambia pipeline, underway or being planned are meant to enhance the country’s regional energy influence.
In the natural gas sector, the Minister is driving the country’s natural gas monetization agenda. Angola, under Minister Azevedo, is actively pursuing key projects, including the Angola Liquefied Natural Gas (LNG) initiative, Quiluma/Maboqueiro gas fields project, Cameia-Golfinho project, and the Sanha Lean Gas project. The Minister is also driving various projects aimed at boosting power generation capacity on the back of natural gas exploitation with initiatives such as a 500 MW Combined Cycle Plant in Soyo.
