According to the chairman of Sonangol's Board of Directors (PCA), Sebastião Martins, the project will help the oil company's revenues, as well as enable the development of other projects, such as fertilizers, allowing agriculture to benefit from the natural gas.
"It is an increase in revenue for Sonangol and, on the other hand, it allows other developments in projects such as fertilizers, for example, in which we are also involved, to begin to take shape and which will allow the diversification of the economy, in the case of agriculture itself, can benefit from a very important product which is natural gas", said the official, quoted by Rádio Nacional de Angola (RNA).
The new gas consortium includes ENI, CABGOC, Sonangol, BP and Total Energies. Through this project, the country will be able to produce around four billion cubic meters of natural gas per year, according to RNA.
It is recalled that last month the closing of negotiations for the start of this new consortium was announced and that gas exploration in the Quiluma and Maboqueiro fields will begin in 2026.
According to RNA, development contracts for these fields, estimated at around 1 billion dollars, were signed on Wednesday, August 11th.