Petroleum Africa
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Friday, August 23, 2013
International firms operating in Angola had better go back and check out their local content commitments as the government is going to crack down on those who have not followed through. The country’s oil minister Jose Botelho de Vasconcelos said not all companies had fully met their commitments.
Angolan state newspaper Jornal de Angola cited Vasconcelos as saying the contracts signed required companies to carry out projects to support local communities and that Angola LNG was one of the only few that had honored its commitments to local communities.
In exploration and production contracts in Angola it is stipulated that $0.15 from every barrel produced be channeled into a fund to provide scholarships and professional training to Angolans working in the oil industry.
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