Sonangol to Drill Exploration Well at Block 24, Driving Upstream Growth and Local Industry in Angola
Sebastião Gaspar Martins, Chairman of Sonangol, has announced that the company plans to drill an exploration well at Block 24 in Angola.
Located in the southern Kwanza Basin, Block 24 is a largely unexplored asset with significant hydrocarbon potential.
Speaking during a fireside chat at the Angola Oil & Gas 2025 Conference and Exhibition, Gaspar Martins emphasized Sonangol’s ongoing commitment to the upstream oil and gas sector and its strategy to reinvest capital from these projects to strengthen Angola’s petroleum value chain.
“Until 2019, Sonangol held a concessionaire role, now managed by the National Oil, Gas & Biofuels Agency. Free from that role, we have positioned Sonangol to hold stakes in nearly 41 concessions. We remain focused on exploration and production, enabling development across other sectors.
Drilling an exploration well at Block 24 will bring additional reserves, reaffirming our position as the largest investor in Angola’s oil and gas industry,” Gaspar Martins stated.
Sonangol is also advancing downstream projects, including the Cabinda Oil Refinery, which commenced operations in 2025.
Its first phase adds 30,000 barrels per day to the market. The company is further investing in logistics, transportation, and infrastructure to position Angola as a regional petroleum hub.
“We are present across the entire value chain, distributing petroleum products domestically and selling internationally. We operate around 12 vessels and provide logistical support throughout the oil industry,” Gaspar Martins added.
Beyond upstream and downstream operations, Sonangol is investing in human capital development, fostering skills, technology transfer, and local participation. Key initiatives include SonaJovem, which aims to introduce 50 high-impact startups to Angola, and partnerships with the Massachusetts Institute of Technology (MIT) to advance research, knowledge exchange, and academic mentoring in Angola’s energy sector.
“We take responsibility for youth development.Through SonaJovem, we are nurturing young entrepreneurs in the oil sector.
Out of 18,000 applicants, we selected 6,000, and 150 are in an incubator program aimed at developing the next generation of industry leaders,” Gaspar Martins explained.
