Angola’s national oil company (NOC) Sonangol is accelerating project development across the oil and gas value chain.
The company partnered with industrial group Tosyali this month to develop the Kassinga mining and steel project; awarded engineering firm KBR a contract for the development of the 200,000 barrels per day (bpd) Lobito refinery and achieved FID with project partner TotalEnergies for the Kaminho deepwater project. These projects and the many more across its portfolio showcase Sonangol’s evolving competitiveness as both a partner and industry operator.
During the Angola Oil & Gas (AOG) conference – taking place October 2-3 in Luanda – a panel discussion titled The Role of the NOC in Unlocking Upstream Potential and Regional Collaboration will provide insight into Sonangol’s emergence as an oil and gas operator. Speakers will also delve into the critical role NOCs play in Africa’s oil and gas industry, with case studies and project updates representing a main feature of the conversation.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
With over 60 years’ experience, Sonangol has been at the forefront of Angola’s oil and gas expansion. The government is currently in the process of privatizing the NOC – expected by 2026 – under efforts to strengthen its capacity as an upstream operator. This move will not only diversify the government’s 30% stake in the company but enhance its competitiveness at a time when Angola’s oil and gas industry is rapidly growing.
Sonangol is enhancing its competitiveness and emerging as a key partner for regional NOCs. Recent collaborations include developing an integrated logistics hub in Namibia with Namcor and the Namibian Ports Authority, and advancing the $5 billion Angola-Zambia Oil Pipeline with Zambian entities, linking the Lobito refinery to Lusaka. These partnerships accelerate oil and gas development in Africa, strengthening regional cooperation.
Meanwhile, an agreement signed between Angola and neighboring Democratic Republic of the Congo (DRC) in July 2023 opens new pathways for collaboration between the two countries respective NOCs. The agreement outlines the co-development of the Chevron-operated Block 14 – situated on the maritime border of the two countries. Given the DRC’s nascent oil and gas sector, collaboration between Sonangol and Sonahydroc will not only bolster the development of the frontier DRC market but strengthen Sonangol’s presence in regional countries.
Like Sonangol, other African NOCs are strengthening their role in the oil and gas industry, leveraging collaboration to monetize untapped resources. This not only creates opportunities for domestic resource development but introduces newfound opportunities for bilateral partnerships between regional NOCs. As such, the AOG 2024 panel will explore the instrumental role Africa’s NOCs play in supporting national production goals. Speakers will unpack opportunities for NOC-led innovation and technology as well as the challenges and opportunities faced across the oil and gas industry.