The Angolan President of the Republic enacted Presidential Decrees No. 109/16 and No. 110/16, both of 26 May 2016, which approved, respectively, the Model for Readjustment of the Petroleum Sector, and some amendments to SONANGOL E.P.’s By-laws.

Presidential Decree No. 109/16, of 26 May 2016

The key aspects of this statute include:

• Reorganization of SONANGOL E.P., which remains the National Concessionaire for the petroleum sector thus responsible for managing and monitoring petroleum contracts;
• Creation of an Agency for the Petroleum Sector (the “Agency”) responsible for inter alia coordinating, regulating and evaluating the performance of the sector; preparing and negotiating the granting of petroleum blocks; and resolving (by administrative means) conflicts arising between the supervising ministries and the various stakeholders of the industry;
• Creation of a High Council for Monitoring the Petroleum Sector (Conselho Superior de Acompanhamento do Sector Petrolífero) responsible for assisting the Angolan State in the exercise of its shareholder rights;
• Maintenance of the Ministry of Petroleum’s powers, without prejudice to any adjustments required to ensure cooperation and coordination with the Agency’s powers and authority; and
• Identification of the four phases for implementation of the new organizational model, as follows: (1) design of the legal framework, (2) reorganization, (3) implementation, and (4) operational changes.

Presidential Decree No. 110/16, of 26 May 2016

Under this statute, SONANGOL E.P.’s By-laws were amended to reflect a change in the governance structure of SONANGOL E.P.’s Board of Directors, which shall now include an Executive Committee.

Should you wish to receive a copy of any of these statutes or an English translation thereof, as well as any additional information please contact:
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