Sonangol is seen as a reliable investment and growth partner in the energy sector, for investors looking to exploit the enormous opportunities in Angola, said company director Osvaldo Inácio, at the African Energy Week, in Cape Town, South Africa.
A note released yesterday by the press service of the event cites the administrator in a presentation of a topic devoted to investment opportunities in the Angolan oil and gas industry, highlighting Sonangol as a “reliable partner for global investors seeking massive and sustainable returns in energy investments”. The official considered that the company is ideal for establishing partnerships with investors looking to invest capital in an energy market supported by contractual stability. “We played a crucial role in positioning Angola as one of the largest African crude oil producers, with Sonangol holding 17.5 percent of the country’s total production and securing 4.2 million tonnes of refined products to meet demand. local,” said the administrator.
According to Osvaldo Inácio, the company has major objectives, such as increasing production, monetization and development of gas, as well as transforming the country into a regional refining center. With these objectives in place, he added, the company is looking for exploration partners to increase production, as it has the resources: “we just need to pump to drive the growth of the industry”, he underlined. energy transition The administrator considered that the energy transition should take place in a fair way, as long as the exploitation is cleaner and environmentally friendly. Commenting on opportunities across the gas industry, he said that, for the time being, Sonangol seeks to become a key player to support local consumption and exports. As a result, Osvaldo Inácio announced projects that the company is implementing. He added that Sonangol has signed a new gas concession, in which the company has a large stake and is looking for reliable partners and investors with which it can cooperate to accelerate development. “The country is open to investment in gas and solar energy and we invite investors. We have moved towards the development of gas in the north of the country, where we are building a fertilizer factory in which we will use gas. We are participants in the New Gas Consortium and partners in the Sanha Lean Gas Project”, said Osvaldo Inácio.
He said that throughout the midstream sector, the Executive highlighted projects such as the Soyo, Luanda and Cabinda refineries, as well as the Barra do Dande Oceanic Terminal, operations for which Sonangol is looking for investors to join.
Investment projects
Osvaldo Inácio said that Angola has been importing refined products and that the country’s goal is to change, describing the three refinery construction projects underway. He added that the three refineries will absorb a total of 450,000 barrels of oil per day, which means that there will be room for exports to the entire region. “We are also discussing pipelines with regional countries. We had a good conversation with Afreximbank about financing these projects”, he announced.
At the event, the executive director also promoted Sonangol’s renewable energy strategy, which includes a 50 megawatt solar photovoltaic plant that the company is developing in Caraculo, a 136 gigawatt gas production facility in Zaire and a green hydrogen project. to be implemented in Saumbe, He underlined that the company is associating the exploration, production and commercialization of oil and gas, with energy transition projects. “We are still not giving up on oil, not yet. We are going to gas and we will move to renewable energies to fight energy poverty in the country and boost economic growth. We plan to develop 1,000 megawatts of renewable energy by 2030”, announced the official.
