ExxonMobil, Sonangol sign MoU for Namibe Basin

Sonangol EP and ExxonMobil Corporation, a multinational oil and gas company in the United States, entered into a Memorandum of Understanding (MOU) on Friday, Dec. 14, 2018 at the head office of the Angolan oil company that defines the intention to sign service contracts with risks, for Blocks 30, 44 and 45 of the Namibe Basin.

Carlos Saturnino and Andre Kostelnik, chairman of the board of directors of Sonangol E.P. and general manager of ExxonMobil in Angola, respectively, were the signatories to the memorandum, which represents the reinforcement of the cooperation agreements between the two companies.

In his brief speech, Carlos Saturnino emphasized that the memorandum is part of the Angolan government’s guidelines on the attraction of foreign investment, and marks the beginning of a new era and the relaunch of the oil exploration strategy in Angola, which involves activities of prospecting and research.

Source: World Oil

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...