Luanda, Angola – Oman and Angola signed a package of agreements and memoranda during His Majesty Sultan Haitham bin Tarik’s state visit to Luanda, with their combined value expected at US$1.5bn.

The instruments cover political, economic, investment and technical cooperation, with energy, transport, logistics and infrastructure among the key areas.

The agreements included mutual visa exemption for holders of diplomatic, special and service passports; technical cooperation between the two governments; elimination of double taxation and prevention of tax evasion and avoidance; and air transport.

The two sides also signed a heads of terms agreement covering logistics services and defence industries in Angola.

The memoranda covered political consultations and training, investment promotion, agriculture and livestock, and cooperation between the Oman Chamber of Commerce and Industry and the Angola Chamber of Commerce and Industry.

Energy cooperation includes potential partnerships across Angola’s upstream, midstream and downstream sectors. A separate memorandum concerns development of a 500MW renewable energy project with battery energy storage under the independent power producer model.

Another non-binding memorandum covers potential cooperation in oilfield services and technologies.

The package includes an executive programme for technical cooperation and an agreement to rehabilitate, upgrade and expand the water distribution network in Luanda province.