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President João Lourenço has issued a decree aimed at speeding up the oil and gas licensing process to encourage new investment in the hydrocarbons sector and revitalise exploration to replace depleting reserves. Presidential Decree 86/18, dated 2 April, eliminates the prequalification phase of the licensing process for all new acreage allocated by state petroleum company Sonangol. The legislation also raises the value threshold above which purchases or contracts for services require public tender.