Ver Angola


Somoil will invest 20 million dollars in 20 new fuel stations

Somoil, the Angolan private oil company, is expected to invest 20 million dollars for the construction of 20 fuel filling stations over the next three years, announced the company chairman.


Edson dos Santos, who spoke to the Lusa agency on the sidelines of the Angola Oil and Gas Conference, said that the company expects to close the year with profits above 50 percent of the 40 million dollars obtained in 2021.

According to the chairman of Somoil's Board of Directors, four self-branded filling stations are currently under construction, two in Luanda province, one in Bengo and another in Soyo municipality, Zaire province, the region where it has the largest representation.

"Our perspective is to officially start selling to the public at the beginning of the year and continue to grow with the objective of having 20 Somoil filling stations in the next three years", said Edson Santos, stressing that the filling stations will have a feature outside the common, because they will work based on solar energy.

Edson Santos stressed that the company's production more than doubled, compared to last year, in the blocks in which it operates, therefore anticipating “very positive financial results compared to the previous year”.

“But more than the results, for Somoil it is also important how the results are obtained, a lot of work around the environmental protection compliance area”, he highlighted.

For the coming years, highlighted the chairman of Somoil, the focus points to two new business areas, namely distribution and renewable energy, more specifically solar energy.

According to Edson Santos, Somoil's vision is to be an integrated energy company of excellence, investing in addition to exploration and production of crude oil, in distribution and solar energy, thus eliminating "a lot of weight, first, economic, and then, environmental, which represents the use of generators”.

“We are also focused on manufacturing units, many factories today depend on energy from generators for their continuous operation, Somoil brings a more environmentally friendly energy solution”, he added.

With a direct workforce of 270 people and close to 400 subcontractors, the president of Somoil said that the company is "in full expansion", in addition to investments in distribution, in renewables, it also continues to grow in the 'up stream', the its 'core business'.

“We are in the process of acquiring some blocks operated by third parties, such as Block 14, operated by Chevron, blocks 17/06, 18 and 31 operated by BP”, said Edson Santos, who guaranteed the conclusion of the project later this year. purchase of Block 14, with the remaining blocks being finalized.

Somoil is the operator of Block 2/05 and the FS-FST associations and holds stakes in non-operated blocks 3/05, 3/05A, 4/05/17/06, with Angola's largest private oil company having a market share of 3 percent.


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