Mon, 04 Dec 2017 17:36 - Updated Mon, 04 Dec 2017 17:40
Sonangol and Total relaunch oil industry
Luanda - The Angolan State-owned Oil Company Sonangol and the Total Oil Company signed today in Luanda several partnership agreements to relaunch the oil industry in the country in the upstream and downstream segment, in the ambit of cooperation between the Sonangol and Total the French multinational.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
1 / 1
Carlos Saturnino, CEO of Sonangol (left), with Patrike Pauyowne of Total
On the basis of the agreements signed a process will be launched for the entry into operation of block 48 (ultra-deep water block), six years after the completion of the last blocks the country has launched for exploration (2011).
"We have been working with the same blocks for six years and in the last few years we have no exploration. So launching the exploration in Angola is extremely important as it is from there that we will ensure the future as an oil company," said the chairperson of Sonangol board of directors, Carlos Saturnino at the end of the signing of the agreements with the CEO of Total, Patrick Pauyowné.
The upstream activities of block 17 include the development and start-up of some assets that have already been identified and discovered a few years ago, namely Acácia, Zimia and Zimia in phase 2.
With regard to the downstream, it is intended to create a joint venture company (50% for Sonangol and 50% for Total) to work on the distribution of refined products, with the possibility of also participating in the importation of refined products, when the market regulation in terms of liberalization.
Total is the operator of Block 32, with a 30% stake, in partnership with Sonangol P & P (30%), while Block 17 holds a 40% stake.
- 01/02/2019 12:50:27
Luanda -The ambassador of Angola to Guinea-Bissau, Daniel Rosa, last Thursday in that country’s capital spoke about the quality of business and measures adopted by the Angolan Executive for the present Angolan context.
- 25/01/2019 18:51:52
Luanda - The 17 trains of the Luanda Railroad (CFL) are back to normal, starting as from next Monday, as a result of the suspension of the general strike that began on January 14.
- 14/01/2019 17:38:46
Luanda - The decision to land the TAP plane on a Lisbon-Luanda flight in the Congolese city of Pointe Noire last Saturday (January 12), due to the departure from Luanda of the flight carrying Angolan President João Lourenço to Dubai, "was entirely up to the captain" of that Portuguese company, Angop has learned.
- 10/01/2019 12:15:32
Lubango - Chinese investors have available US $ 10 billion to invest in the fields of industry, agriculture and scientific research said Wednesday in Lubango, Huíla province, the minister- counsellor of the Chinese embassy , Li Bin.