Angola’s nationwide oil firm (NOC) Sonangol is accelerating venture growth throughout the oil and gasoline worth chain. The corporate partnered with industrial group Tosyali this month to develop the Kassinga mining and metal venture; awarded engineering agency KBR a contract for the event of the 200,000 barrels per day (bpd) Lobito refinery and achieved FID with venture companion TotalEnergies for the Kaminho deepwater venture. These initiatives and the various extra throughout its portfolio showcase Sonangol’s evolving competitiveness as each a companion and trade operator.
Throughout the Angola Oil&Fuel (AOG) convention – happening October 2-3 in Luanda – a panel dialogue titled The Function of the NOC in Unlocking Upstream Potential and Regional Collaboration will present perception into Sonangol’s emergence as an oil and gasoline operator. Audio system can even delve into the vital position NOCs play in Africa’s oil and gasoline trade, with case research and venture updates representing a essential characteristic of the dialog.
AOG is the most important oil and gasoline occasion in Angola. Going down with the total assist of the Ministry of Mineral Sources, Oil and Fuel; the Nationwide Oil, Fuel and Biofuels Company; the Petroleum Derivatives Regulatory Institute; nationwide oil firm Sonangol; and the African Power Chamber; the occasion is a platform to signal offers and advance Angola’s oil and gasoline trade. To sponsor or take part as a delegate, please contact sales@energycapitalpower.com.
With over 60 years’ expertise, Sonangol has been on the forefront of Angola’s oil and gasoline growth. The federal government is presently within the technique of privatizing the NOC – anticipated by 2026 – below efforts to strengthen its capability as an upstream operator. This transfer is not going to solely diversify the federal government’s 30% stake within the firm however improve its competitiveness at a time when Angola’s oil and gasoline trade is quickly rising.
Sonangol is enhancing its competitiveness and rising as a key companion for regional NOCs. Latest collaborations embrace growing an built-in logistics hub in Namibia with Namcor and the Namibian Ports Authority, and advancing the $5 billion Angola-Zambia Oil Pipeline with Zambian entities, linking the Lobito refinery to Lusaka. These partnerships speed up oil and gasoline growth in Africa, strengthening regional cooperation.
In the meantime, an settlement signed between Angola and neighboring Democratic Republic of the Congo (DRC) in July 2023 opens new pathways for collaboration between the 2 international locations respective NOCs. The settlement outlines the co-development of the Chevron-operated Block 14 – located on the maritime border of the 2 international locations. Given the DRC’s nascent oil and gasoline sector, collaboration between Sonangol and Sonahydroc is not going to solely bolster the event of the frontier DRC market however strengthen Sonangol’s presence in regional international locations.
Like Sonangol, different African NOCs are strengthening their position within the oil and gasoline trade, leveraging collaboration to monetize untapped assets. This not solely creates alternatives for home useful resource growth however introduces newfound alternatives for bilateral partnerships between regional NOCs. As such, the AOG 2024 panel will discover the instrumental position Africa’s NOCs play in supporting nationwide manufacturing targets. Audio system will unpack alternatives for NOC-led innovation and expertise in addition to the challenges and alternatives confronted throughout the oil and gasoline trade.
For extra details about the AOG 2024 program, go to https://apo-opa.co/4dAJ0Kh
Distributed by APO Group on behalf of Power Capital&Energy.