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27 Jun 2024

Sonangol Looks to Strengthen Regional Ties in Oil and Gas

Sonangol Looks to Strengthen Regional Ties in Oil and Gas
The Angolan government aims to complete the privatization of its National Oil Company (NOC) Sonangol by 2026. The privatization process will diversify the government's 30% stake in the NOC, attracting private investors to help Sonangol expand its operations across the oil and gas value chain. The privatization initiative not only supports Sonangol’s ambition to become a competitive operator but reaffirms the company’s position as a strong partner for regional NOCs.

The upcoming Angola Oil & Gas (AOG) conference – Angola’s premier event for the hydrocarbons sector, taking place from 2 -3 October in Luanda – will highlight how Sonangol’s transformation serves to drive oil and gas production in Angola and beyond. Uniting regional NOCs, global investors and technology providers with Angolan companies, the event promotes collaboration and integration in line with Angola’s commitment to bolster regional energy security through oil and gas.  

AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact [email protected].

Drawing on over 60 years of industry experience, Sonangol continues to be at the forefront of Angola’s upstream oil and gas sector. The NOC has gained significant expertise through partnerships with international oil and gas players such as TotalEnergies, Chevron, Galp Energia, ExxonMobil and many more. In May 2024, the firm and its partners – including TotalEnergies - in Block 20/11 announced a final investment decision for the $6 billion Kaminho deepwater project in Angola. Comprising the Cameia and Golfinho fields, the project features an FPSO which will produce 70,000 barrels of oil per day (bpd) once operational by 2028.

In the downstream sector, Sonangol is advancing Angola’s refining capacity through cooperation with international investors, positioning itself as a crucial supplier of petroleum products to the regional market. In March 2024, Sonangol awarded engineering firm KBR a contract to construct the 200,000 bpd Lobito Refinery in Benguela province. Sonangol is also spearheading the development of the 60,000 bpd Cabinda refinery, the 100,000 bpd Soyo refinery and upgrades to the existing Luanda refinery.

This experience makes Sonangol a strong partner for emerging producers across southern Africa. Namibia, for instance, which made a series of deepwater discoveries in the Orange Basin since 2022, has turned to Sonangol to collaborate on oil and gas projects, including logistics and capacity building. In March 2024, Sonangol signed an agreement with Namibia’s NOC Namcor and the Namibian Ports Authority to develop an integrated logistics hub to support the country’s oil and gas sector. Sonangol’s 30 years of experience in managing oil and gas logistics services in Angola will be instrumental in establishing a similar base in Namibia.

Beyond Namibia, Angola and Zambia are strengthening ties across the oil and gas industry, with the countries collaborating on downstream infrastructure. Sonangol is working with Zambian entities to advance the $5 billion Angola-Zambia Oil Pipeline – a proposed 1,400km pipeline to transport oil from Angola’s Lobito Refinery to Lusaka in Zambia. In April 2024, technical work for the pipeline was completed, moving the project closer to the construction stage. Zambia also signed a cooperation agreement with Angola in 2022, granting the country a stake in the Sonangol-owned Lobito Refinery.

Meanwhile, Angola and the Democratic Republic of the Congo signed an agreement in July 2023 to co-develop the Chevron-operated Block 14, located on the maritime border of the two countries. This deal will enable the DRC to harness expertise from both Chevron and Sonangol to enhance its oil and gas production. In December 2023, Sonangol signed an oil by-products supply agreements with the DRC’s NOC Sonahydroc, expanding its role in shaping regional energy security.

As Sonangol strives to enhance regional collaboration, AOG 2024 will serve as an ideal platform to connect regional NOCs. Through a series of panel discussions, networking functions and technical workshops, the event promotes partnerships and investment under the theme Driving Exploration and Development Towards Increased Production in Angola.


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