Angola goals to finish the privatization of nationwide oil firm (NOC) (http://apo-opa.co/3yn9bos) Sonangol by 2026, diversifying the federal government’s 30% stake within the firm whereas attracting buyers to assist develop operations throughout the oil and fuel worth chain. The privatization initiative not solely helps Sonangol’s ambition to change into a aggressive operator however reaffirms the corporate’s place as a robust companion for regional NOCs.
Sonangol has joined this yr’s Angola Oil&Gasoline (AOG) convention – happening this October in Luanda – as a diamond sponsor. The sponsorship displays the NOCs dedication to not solely Driving Exploration and Improvement In the direction of Elevated Manufacturing in Angola – the theme of this yr’s convention – however to connecting with world buyers and mission builders on new alternatives in oil and fuel growth.
AOG is the most important oil and fuel occasion in Angola. Going down with the total assist of the Ministry of Mineral Sources, Oil and Gasoline; Sonangol; the Nationwide Oil, Gasoline and Biofuels Company; the African Power Chamber; and the Petroleum Derivatives Regulatory Institute, the occasion is a platform to signal offers and advance Angola’s oil and fuel trade. To sponsor or take part as a delegate, please contact sales@energycapitalpower.com.
Angola goals to keep up manufacturing above a million barrels of oil per day (bpd) past 2027 by accelerating exploration and investments in incremental manufacturing. On the similar time, the nation goals to extend the share of pure fuel within the vitality combine to 25% by 2025, highlighting strategic alternatives for overseas buyers and mission builders. To realize these targets, Sonangol has positioned itself as a robust and dependable companion for oil and fuel firms.
Drawing on over 60 years of trade expertise, Sonangol continues to be on the forefront of Angola’s upstream oil and fuel sector. The NOC has gained vital experience by partnerships with worldwide oil and fuel gamers together with TotalEnergies, Chevron, Galp Energia, ExxonMobil and lots of extra. In Could this yr, Sonangol and its companions – together with vitality supermajor TotalEnergies and petroleum refineries firm Petronas – in Block 20/11 introduced a closing funding choice for the $6 billion Kaminho deepwater mission (http://apo-opa.co/3yy1Oui) in Angola. Comprising the Cameia and Golfinho fields, the mission contains a floating, manufacturing, storage and offloading (FPSO) vessel, which can produce 70,000 bpd as soon as operational by 2028.
Sonangol can also be growing the Agogo Built-in West Hub Improvement Venture in collaboration with worldwide vitality firm Azule Power. The mission includes drilling 36 new wells and putting in an FPSO (http://apo-opa.co/4cb9IYt) with a manufacturing capability of 120,000 bpd, a fuel injection capability of 230 million commonplace cubic toes per day and a water injection capability of 12,000 bpd. Scheduled for operation by late-2025, this initiative underscores Sonangol’s dedication to increasing oil manufacturing.
Within the downstream sector, Sonangol is advancing Angola’s refining capability by cooperation with worldwide buyers, positioning itself as a vital provider of petroleum merchandise to the regional market. The corporate just lately signed an settlement with Azule Power to boost decarbonization on the Luanda Refinery – the nation’s sole working refinery. Moreover, in March 2024, Sonangol awarded engineering agency KBR a contract to assemble the 200,000 bpd Lobito Refinery in Benguela province. Sonangol can also be spearheading the event of the 60,000 bpd Cabinda refinery and the 100,000 bpd Soyo refinery.
Throughout the AOG 2024 convention, Sonangol will share perception into how ongoing mission developments will improve vitality safety in each Angola and the broader area. Delegations from China, the US, Europe, the USA, the UAE, Switzerland and extra are collaborating, creating alternatives for brand spanking new offers forward of the nation’s 2025 Restricted Tender – launching in Q1 subsequent yr.
For extra details about this system, go to https://apo-opa.co/4fvmCUe.
Distributed by APO Group on behalf of Power Capital&Energy.