In a meeting this Wednesday with the press, called "Café com a Media", to talk about the company's results in the last two years, Edson dos Santos highlighted the significant growth in average daily production, which went from 4.3 thousand barrels of oil/day, in 2021, to 12 thousand barrels of oil/day, with emphasis on the contribution of Block 14/14K (6.9).
According to Edson dos Santos, the company's production "almost triples year after year". In 2020, he recalled, the blocks operated by Somoil produced around 8,000 barrels and "today, production operated by Somoil is close to 20,000 barrels".
"More than doubled the production operated by us. Where do these numbers come from? A lot of focus on technology - Somoil's fields are very old, they have been in production since the [19]70s – a lot of investment in 'upgrade', modernizing the fields operated by us, we went from hydraulic pumps to 'jets' pumps, we mobilized a onshore drilling unit, a rig that has helped us drill new wells to mitigate the decline and increase production", he said.
Edson dos Santos said that oil production in Angola has been declining, but for Somoil the situation in the last two years "has been reversed".
Another good indicator for the company, continued the chairman of the oil company, has been the reduction in production costs, "which shows that Somoil as an operator has become increasingly efficient", with current costs of 14.5 dollars against the previous 32.4 dollars, in 2019.
With a year-on-year increase in revenues, associated with an increase in production and price, the company closed 2022 with 448.3 million dollars and a net result of 182.1 million dollars.
"Once again between the historic Somoil and the contribution of Block 14/14K. Without Block 14/14K, Somoil's net income improved by close to 88 percent, we went from a company costing 41 million dollars to close to 77 million dollars in net income. When we look at the integrated net result, taking into account Block 14/14K, this number rises to more than 340 percent, from 2021 to 2022 and 182 million dollars would be the integrated net result", he highlighted.
Somoil's PCA underlined that the price factor "helps a lot", but it is not what most influences the results, noting that an analysis of the results was carried out with the price of the previous year, being the approximate contribution of 35 percent of the results.
"In 2021, Somoil sold its oil close to 71 dollars per barrel and in 2022 it sold close to 97 dollars per barrel. The price helped, but the biggest contribution really comes from increasing production and improving efficiency", said Edson dos Santos, also highlighting the flexibility of the State in improving contractual terms.
"Clearly the best year in Somoil's history, 2021 was already the best year in Somoil's history, 2022 is even better, a historic year for us, marks significant growth, clearly safer, more environmentally friendly and more profitable", he stressed.
Operator in four blocks with a potential of 50 thousand barrels a day, namely Block 2/05 (30 percent), FS (15 percent), FST (31.33 percent) and CON-1 (40 percent), the Somoil also has interests in seven blocks operated by third parties, Block 3/05 (10 percent), 3/05th (10 percent), 4/05 (18.75 percent), 14 (29 percent), 14K ( 14.5 percent), 06/17 (10 percent) and CON-6 (35 percent).
Over the past two years, Somoil has increased its assets, with emphasis on the acquisition of a 20 percent stake in Block 14/14K from Total, the first in deep water drilling in Angola, operated by Chevron, with a production of around 60 thousand barrels/day.
On the acquisition of Block 17/06, Edson dos Santos said that the aim was to increase from 5 percent to 7.5 percent, acquiring a 2.5 percent stake in Thailand's PTTEP.
"A block under development, a lot of potential and another side that attracts us in this block is the gas potential", said the official, citing the acquisition of 5 percent of GALP's assets in Block 32, in ultra-deep waters, operated by TotalEnergies.
According to Somoil's PCA, the company is also betting on the 'downstream' within the oil industry, with Somoil Distribuição, foreseeing the construction of at least 25 filling stations, of which two ready to start operating this year, a bet in lubricants and renewable energies, with projects in the pipeline for the supply of solar energy.
