Angola is working towards completing the privatization of its national oil company (NOC) Sonangol by 2026. This initiative aims to diversify the government’s 30% stake in the company and attract investors to help expand operations across the oil and gas value chain. By privatizing Sonangol, the company not only aims to become a competitive operator but also solidify its position as a strong partner for regional NOCs.
Sonangol is a diamond sponsor at this year’s Angola Oil & Gas (AOG) conference, set to take place in Luanda this October. This sponsorship signifies the NOC’s commitment to driving exploration and development towards increased production in Angola, the theme of this year’s conference. Sonangol also aims to connect with global investors and project developers to explore new opportunities in oil and gas development.
AOG is the largest oil and gas event in Angola, supported by key entities such as the Ministry of Mineral Resources, Oil and Gas; Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute. This event serves as a platform to sign deals and advance Angola’s oil and gas industry. For sponsorship or participation inquiries, please contact sales@energycapitalpower.com.
Angola’s goal is to maintain production above one million barrels of oil per day beyond 2027 by accelerating exploration and investments. The country also aims to increase the share of natural gas in the energy mix to 25% by 2025, creating strategic opportunities for foreign investors and project developers. Sonangol is positioned as a reliable partner for oil and gas companies to achieve these goals.
With over 60 years of industry experience, Sonangol remains a key player in Angola’s upstream oil and gas sector. The NOC has established partnerships with international oil and gas companies like TotalEnergies, Chevron, Galp Energia, and ExxonMobil. In collaboration with its partners, Sonangol has made significant investments in projects like the Kaminho deepwater project and the Agogo Integrated West Hub Development Project to expand oil production.
In the downstream sector, Sonangol is enhancing Angola’s refining capacity by cooperating with international investors. The company is focusing on projects like the Luanda Refinery decarbonization initiative and the construction of new refineries in Benguela and Cabinda provinces. Sonangol’s efforts in the downstream sector aim to position Angola as a major supplier of petroleum products to the regional market.
During the upcoming AOG 2024 conference, Sonangol will provide insights into how ongoing project developments will improve energy security in Angola and the broader region. Delegations from various countries are participating in the conference, creating opportunities for new deals ahead of Angola’s 2025 Limited Tender launch in Q1 next year.
For more information about the program, visit https://apo-opa.co/4fvmCUe.
Distributed by APO Group on behalf of Energy Capital & Power.