Sonangol aims to reach 10% of national production

Sonangol intends by 2027 to be a reference company in the African continent and to hold 10 percent of the national production, going from the current 27,000 to 120,000 barrels per day, said its chairman, Sebastião Martins.

Currently, the national oil company has a production share of two percent of the country’s total production, estimated at 1.4 million barrels / day, but the new management intends, based on the Strategic Exploration and Production Plan 2020-2027, change this situation.

In order to achieve this goal, Sonangol has in its portfolio the creation of SonaDrill, a joint venture for drilling operations, with 50% of the interests held by Sonangol and 50% by Seadrill.

The plan also contemplates the entry into operation of the Sonangol Libongos drillship for Block 15/06, as well as the contracting of the drilling vessel Sonangol Quenguela, as well as the transfer of the function of operator from Block 5/06 to Sonangol P&P (Sonangol Reseach and Production) is under negotiation.

The oil discoveries in Block 15/06 (SNL 36.8%), Agogo, Ndungu, and Agidibo prospects will also contribute to the increase in Sonangol’s production, with estimated total potential of 1.3 billion barrels, as well as such as the signing of memoranda with the concessionaire, Chevron and other companies for the joint study and technical evaluation of Blocks 33 and 34, with a view to relaunching the exploration activity, south of the Congo River.

 

Source: ANGOP

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