In a press conference, the chairman of the Board of Directors of Somoil, Edson dos Santos, considered it important to enter the stock market for the purposes of financing projects and the growth of the company, which has doubled its daily oil production in the last two years. to 16,000 barrels of oil.
"What we want for Somoil cannot be done with its own funds or only as an alternative to bank financing, external financing. So, in Somoil's strategic plan is clearly Somoil's listing on the stock exchange, first on Bodiva [Bolsa de Debt e Valores de Angola] and beyond, 2020-2030, we hope to have a Somoil on international stock exchanges", he said.
According to Somoil's financial manager, Fernando Hermes, a project was set up internally to meet the requirements for listing on the stock exchange.
"We made a project within this great effort that we call business restructuring or repositioning of Somoil's businesses. We need to define whether the great value to be presented on the stock market, for large investors, has to do with Somoil as a whole or if it has to do with the to do with parts of the Somoil project. We are currently in this final stage of restructuring", he pointed out.
Fernando Hermes also said that a protocol was signed with Bodiva, which is monitoring the process of preparation for going public.
Edson dos Santos stressed that for the period 2020-2030, the company's ambition is to become "very good at operating inland fields, shallow waters and mature fields".
"By that time, 20-30, we hope to have some experience in deep waters and the capacity to also become operators in deep waters", said the official, stressing the commitment to human resources and energy transition.
In 2020, Somoil had negative net results of four million dollars (3.6 million euros), highlighted Edson dos Santos, stressing that the losses "were greater than financial values".
"We missed an opportunity, there was production that we should have carried out and had to be postponed, we wanted to move the probe that is in the country and we couldn't do it, mobilizing human resources was very difficult, bringing expatriates to the country, visas, covid limitations -19, it was a difficult year for Somoil and beyond," he said.
Somoil is the operator of Block 2/05 and the FS-FST associations and holds interests in unoperated blocks 3/05, 3/05A, 4/05/17/06.
With a market share of 3 percent, Angola's largest private oil company intends to expand its network of gas stations, currently with three infrastructures and one under construction, this year, the first from scratch by Somoil.
"Our vision is to have a minimum of 25 service stations spread across the country. The priority at the moment, of the four PA [supply stations] that we have, clearly Luanda, due to the size of the market, and Soyo, which is the municipality where we have a greater presence and workforce", he underlined.
With regard to renewable energies, said Edson dos Santos, Somoil chose to bet on solar energy.
"This is our priority, this is where we are very focused, we have established a partnership with the company Hyperion, one of the largest solar energy operators in the Iberian peninsula", he said.
