Ver Angola


Somoil with profits over 100 million dollars last year

Last year, Somoil made profits worth 182 million dollars, as a result of investments in modern technological means, according to Edson dos Santos, chairman of the Board of Directors (PCA) of the national oil company.

: Giovanni Da Cunha
Giovanni Da Cunha  

Without providing comparison data for the previous year's revenues, the company's PCA - in statements to the press, cited by Angop - also highlighted the strengthening of the administrative and operational organization and the environmental aspect in the blocks in which it operates, whose actions also contributed to success in revenue matching.

In terms of production fields, he clarified that profound changes were made, which were embodied with the exchange of technological tools that were already out of use, exemplifying with the change from diesel generators to gas in order to supply electricity to the areas of operations.

According to the official, cited by Angop, the referred change allowed eliminating the constant burning of gas in the oil blocks, as well as saving money used in the acquisition of fuel for the diesel generators.

In terms of the company's current production, the CEO of the oil company said that it is close to 25,000 barrels a day, which is guaranteed by more than 1000 employees.

On the occasion, he also made it known that the company is exploring for crude oil in high risk blocks, found and in exploration since the 70s, without unforeseen events, writes Angop.

According to the official, cited by Angop, the oil company currently operates in four blocks with an equal number of concessions, including three on land (two in production and one in exploration).

It should be noted that this week, Somoil was elected "E&P Player of the Year" by The Energy Year Angola 2023. "Edson R. dos Santos, PCE, and the Executive Directors – João André, Valente Silva and Fernando Hermes, received the award, thanking the sector for recognition and reinforcing the constant commitment of Somoil and its entire workforce to being the reference company in Angola and, from here to the world", says a company statement, which VerAngola had access to.

Quoted in the note, Edson dos Santos said they were "very happy and excited by the recognition". "We are very happy and excited by the recognition of Somoil's great progress. The year 2022 was one of the best years in our history, specifically safety at facilities, oil production and cost control. We dedicate the award to all Somoil employees and their families who have tirelessly contributed to the sustainable and profitable growth of Somoil - ONE Team!", he concluded.


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