Ver Angola

Energy

Sonangol has “identified projects” to reach 10 percent of production

The chairman of the Board of Directors (PCA) of Sonangol, Gaspar Martins, made it known that the oil company maintains the objective of reaching 10 percent of oil production and that it already has “identified projects” for this purpose.

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"We continue with our objectives of maintaining what is the reach of 10 percent of our operated production, we maintain this objective. We have identified projects and we will continue to materialize them", indicated the person in charge, in declarations to Rádio Nacional de Angola (RNA).

Throughout this year, he continued, the company has made these goals more evident with the ability they have to have "a portfolio of exploration and production projects" that will make them reach that claim.

"In 2022, we made these objectives even more evident with the ability we have to have a portfolio of exploration and production projects that will lead us to this goal", he said, quoted by RNA.

Gaspar Martins again mentioned that they intend to reach 10 percent of production and took the opportunity to inform that next year they should proceed with the "first well in one of the oil concessions" they have.

"We want to reach 10 percent and one of the objectives that was not achieved in 2022, but we will certainly in 2023, drill the first well in one of the oil concessions that we have for our responsibility for operation and we are thinking either in block 11 or in block 12, if not in one of these blocks, we also have the other blocks at deep sea level where we also operate", he told RNA.

In addition, according to RNA, the PCA of the flagship oil company reported that Sonangol increased its oil product storage capacity to 580,000 cubic meters.

Gaspar Martins also took the opportunity to highlight what had been done in terms of refining. "We also did not fail to mention what our projects were in the field of refining (...). We are reminded of the platform unit that allowed us today to be in a position to produce three times more gasoline than we produced in previous conditions".

He also added that he has three refining projects running, namely the Cabinda, Soyo and Lobito refineries.

"Two in partnership with our partners, we are talking about Gemcorp and Quantem (...) and then we have one that is the main responsibility of Sonangol, which is the Lobito refinery, which does not prevent us from having partners, but it is our current responsibility and we also have this project running and we are sure that we will take it to the end", he added, quoted by RNA.

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