Ver Angola

Energy

Sonangol negotiates partnerships to sell products to neighboring countries

Sonangol is negotiating the supply of refined products with governments and potential trading partners in the region that is part of the Southern African Development Community (SADC), announced the president of the oil company.

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Gaspar Martins, who was speaking this Thursday at a press conference in Luanda, underlined that "soon" Sonangol will be present in the regional market, having developed a study with a view to the strategic positioning of the distribution and marketing business of refined products.

"This study is in a terminal phase and we think that, soon, we will be in the entire SADC region, with the Democratic Republic of Congo also being an integral part, and we will supply products," said the chairman of the Board of Directors. (PCA) of the oil company.

SADC is an economic bloc formed by South Africa, Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Swaziland, Tanzania, Zambia and Zimbabwe.

Sonangol, which this Thursday took stock of its last 12 months of activity as part of the company's 44th anniversary celebrations, is also negotiating the acquisition of assets in the storage and distribution segment, at a regional level.

Sonangol is the largest investor in the sector in Angola, operating nine oil blocks and being present in 228 others.

Estimated oil production in 2019 was 237,000 barrels / day, down 0.2 percent from the previous year, representing 17 percent of Angola's total production, the PCA said.

In blocks operated by Sonangol, production decreased by 32 percent, from 14,001 to 9,458 barrels / day, while in blocks not directly operated, there was an increase of 1.8 percent (from 224,406 to 228,413 barrels / day ).

Gaspar Martins also highlighted Sonangol's participation in the new gas consortium on the annual balance sheet, with a 19.8 percent share, a project for the development of non-associated gas, as well as the joint venture with the Italian ENI for the production of 50 MW of solar energy in the province of Namibe, which should start in 2021.

He also highlighted the increase in fuel storage capacity onshore at the Barra do Dande Ocean Terminal from 2022, the signing of a gas supply contract for the future fertilizer plant in Soyo and the signing of a contract with Toyota Angola to produce lubricants.