Sonangol Sold 24 Assets and Hopes to Privatize Another Seven This Year

Sonangol Sold 24 Assets and Hopes to Privatize Another Seven This Year

Sonangol has already sold a total of 24 assets, which yielded 130 million dollars, and is in negotiations to privatize another seven year, the chairman of the board of directors of the state-owned oil company said last Friday, 24th February.

“This total of alienated assets allows us to say we have contracted, in terms of alienation, the equivalent of a collection of 130 million dollars”, said Gasper Martins, in a press conference.

The chairman of the Board of Directors of the National Society of Combustiveis de Angola (Sonangol) assured that the assets were negotiated, nothing that those that were not received in their entirety are the results of the way in which they were sold.

“Of the first ones we have there, for example for 2022, the values of 48 million dollars are assured and 130 million dollars that we have contracted, more than 30 percent at least are already assured, which does not mean that we will not receive all values.” he added.

Gasper Martins gave as an example the buildings of the first privatized phase on Avenida da Republica, in Portugal, whose values ”are with Sonangol.”

The company also informed that 24 assets were privatized, 18 are in the process of being foreclosed and 13 others are yet to be sold, of which seven are expected to be sold in the current year.

Regarding the sale of six oil blocks, namely blocks 3\05, 15\06, 18, 23, 27and 31, the executive director of Sonangol, Joaquim Fernandes, stressed that the prospect of initial revenue is around 860 million of dollars, which could reach around 1.1 billion dollars.

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