Wed, 13 Jun 2018 17:37 - Updated Wed, 13 Jun 2018 17:37
ENI provides technical and financial assistance to Sonangol
Luanda - Italian oil company ENI Angola will provide technical and financial assistance services to the Angolan national fuel company - Sonangol, in a period of 30 to 36 months, announced today the chairperson of the Board of Directors, Carlos Saturnino.
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
Chairperson of Board of Directors of Sonangol, Carlos Saturnino (right) and his ENI counterpart, António Vellas
Photo: Pedro Parente
This technical and financial provision that ENI Angola will provide to Sonangol results from an agreement signed today, valued at approximately US$ 200 million, according to the CEO Carlos Saturnino.
The pact, in which the signatory of ENI Angola was its counterpart Antonio Vella, provides for two parts, one in the amount of 60 million and another of 120 million US dollars.
The first part is related to the planning, organization of the shutdown for general maintenance of the Luanda refinery, elaboration and development of an economic and operational model for it, in order to improve all operational work area and its sustainability.
Secondly, it has to do with the installation of a new unit that will allow a substantial increase in the production of gasoline and amounts could be involved up to USD 120 million.
In total, as the manager Carlos Saturnino said, the agreement can reach up to USD 200 million, which will be financed by ENI Angola, and Sonangol will reimburse it on advantageous terms, since it will only do so after 12 months of the implementation of the beginning of the implementation of the contract, according to the agreement.
- 31/01/2019 17:55:18
Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.
- 31/01/2019 11:49:09
London - Brent oil for March delivery opened High on Thursday in the London futures market a 62,19 US dollars, with a variation of 0.67% in relation to the previous session.
- 31/01/2019 10:43:25
Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.
- 30/01/2019 16:52:13
London - Brent oil barrel for March delivery opened on Wednesday in the London futures market at USD 61.55, up 0.48% from the close of the previous session.