Ver Angola

Energy

Sonangol receives five investment proposals from the Lobito refinery

Sonangol received five proposals for investment by the Lobito refinery, according to the program that estimates it will produce 200,000 barrels of oil per day and contribute to developing an industrial hub in the region, announced the oil company.

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According to Sonangol, the proposals were submitted by three consortia made up of several companies and two individual companies.

The first joint proposal is from LANPEC Technology Limited (China) and International Business Development Group – IBD (USA), the second is from Gemcorp Holding Limited and Omatapalo – Engenharia & Construção, SA and the third is from HBMP – Hull Byth Man Power – General Trade and Service Provision Ltd, AVIC International Beijing Co Ltd and China Huanquiu Contracting & Engineering Co., Ltd.

The fourth and fifth proposals were submitted by Layher (Pty) Ltd and GazMin International, respectively.

"In accordance with the tender program, the evaluation phase, clarification of proposals and 'due diligence' will take place until 26 November", reads a statement.

The state oil company also indicates that on December 10 the companies that will integrate the corporate structure of the lobito refinery will be announced.

Sonangol held the "public act of opening and acceptance of proposals for investment in the lobito refinery, in accordance with the program, announced on July 9, during the launch of the public tender.

The event, which took place in the main hall of the Lobito Municipal Administration, was attended by the Secretary of State for Oil and Gas, José Barroso, the vice-governor of Benguela, Adilson Gonçalves, the administrator of Lobito, Evaristo Mário and the director of Sonangol, Joaquim Fernandes, among others.

"The national oil company has already carried out several phases of the project, including the economic feasibility study, reassessment of the feed, dredging of Lobito bay, preparation of terraces, conduct of the heavy load road, steps that will allow a more effective action potential partners," Sonangol reported on 9 July in a statement.

The tender was launched at the Lobito Municipal Administration, in the presence of national and foreign investors, as well as the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who highlighted the "special significance" of this refinery, in a scenario in which 80% of the fuel consumed is imported.

"The Angolan State (...) directed efforts to boost the crude oil transformation segment, which includes the Lobito refinery, as a key initiative for achieving the goal relating to the reduction or eradication of our external dependence, in regarding refined petroleum products," said the government official.

The construction of a refinery with this processing capacity "will significantly impact the national economy and the lives of the population, as the risks inherent in the rise in the cost of derivatives domestically, motivated by exchange rate fluctuations and fluctuations in the price of refined products, will be eliminated. international markets," he continued.

According to Diamantino Azevedo, the absorption of a considerable national workforce is expected, with the provision of around eight thousand direct and indirect jobs, in the construction phase, and another four thousand in the operation phase.

In addition, the State "created several fiscal incentives, with considerable time horizons, in order to allow a tax relief and a certain level of financial slack for the entrepreneurs, and thus, safeguard the economic viability of the project", he indicated.

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