Diamantino Azevedo discussed, in an interview with Lusa, the relationship between the state oil company Sonangol and Galp Energia, an alliance that is interested in consolidating.
"The interest in preserving and consolidating this alliance is evident and should under no circumstances be ignored," said the minister, rejecting that the synergies between the two companies are underused and pointing to the case of Sonangalp, resulting from a 'joint venture' between Galp Energia and Sonangol, which operates a network of oil product distribution stations in Angola.
For this "understanding", according to Diamantino Azevedo, it is also relevant the fact that in the 'upstream' segment (oil exploration and production) Sonangol and Galp are on equal footing in terms of the dimension of the participation in the oil concessions, " none of which are removed from a future projection to the condition of operator in the 'upstream'".
For the person responsible for the oil sector, the "lack of materialization so far of projects in the 'upstream' is fundamentally due to the consideration of the technological and financial challenges posed by investments in deep and ultra-deep waters, which are the origin of approximately 70 percent of Angola's oil."
"We want to make it clear that, whether in terms of the investments we make or in the form of participation in Galp, Sonangol will always be attentive to the opportunities that arise", he indicated.
In March of this year, Sonangol, which holds an indirect stake in Galp through Amorim Energia, in which it holds 45 percent through Esperanza Holding, of which Exem Energy, linked to businesswoman Isabel dos Santos is also a shareholder, admitted the possibility to become an independent shareholder.
Diamantino Azevedo also highlighted the "potential for establishing synergies" between the two companies in the area of energy transition, giving wind energy as an example.
"We have our own thinking about the energy transition, but we are not dissociated from that, both in the country and in the oil sector", he said, noting that Sonangol is developing two photovoltaic solar energy plants and developing projects for green hydrogen at your research center.
The minister also noted that there is interest in new players entering the Angolan market: "We have a good relationship with international companies operating in Angola, we are in constant interaction and we are sure that they welcome the measures we have taken. ".
"We see interest from companies, both large and medium and small, that are not yet in our country, to act here in the oil industry in Angola", he stressed.
Diamantino Azevedo acknowledged that this is a "difficult moment, not only for the oil industry", but he believes that companies value the changes that have been being promoted by the executive to improve the sector's attractiveness.
The study on the competitiveness of the oil industry in Angola that is being developed will "provide more grounds for making changes, if necessary, to our legislative package", he added.
