Angola’s national oil company has joined the African Energy Week conference as a platinum sponsor, demonstrating the company’s commitment to collaboration, sustainability and progress.
In the age of International Oil Company divestment from African oil and gas, the continent’s National Oil Companies (NOC) have emerged as the energy firms of the future, driving a series of large-scale projects that promise new opportunities for job creation, capacity building and long-term socioeconomic growth. Angola’s NOC Sonangol is at the forefront of this progress, having undergone a restructuring process aimed at transforming the NOC into an integrated energy firm. Now, Sonangol is making significant progress across the country’s energy market, and has emerged as a key driver of Africa’s energy renaissance.
As the NOC moves to expand its presence and influence in Africa, the African Energy Chamber (AEC) is proud to announce that a high-level delegation from Sonangol will participate at the African Energy Week (AEW) conference and exhibition – taking place in Cape Town from October 16-20. Sonangol has joined the highly-anticipated event as a platinum sponsor, support which speaks to the calibre of AEW as the premier event for the African energy sector. Sonangol Executive Board Member Osvaldo A. Inácio will lead the delegation to Cape Town, with opportunities for collaboration on the horizon.
Sonangol has played an instrumental part in enhancing the competitiveness of Angola’s oil and gas resources. Traditionally representing the government’s interests in the energy sector, the NOC was responsible for the exploration, production, transportation and marketing of oil and gas in Angola. This led to a series of industry successes, with the country emerging as the biggest oil producer on the continent in 2022. A privatization process which began in 2021 is currently underway, and is expected to be complete by 2026. This will see Sonangol transform from a public entity into an internationally competitive operator.
The company is deeply engaged in the exploration and production of hydrocarbons across the country’s subsoil and continental shelf, and bears the responsibility of various stages of the oil and gas lifecycle. With a commitment to efficiency, transparency and environmental protection, the company facilitates the development of Angola’s economy while ensuring the sustainable monetization of oil and gas. Major projects currently underway include the development of three new refinery facilities – Cabinda, Lobito and Soyo – the Angola-Zambia pipeline; the Agogo Oil Field Development; the Cameia-Golfinho Development; and the Begonia Oil Field Development, all of which are being undertaken in close collaboration with regional and global partners.
Notwithstanding oil and gas, Sonangol is committed to a sustainable energy future, and is prioritizing investments in various other segments of the Angolan economy under efforts to bolster diversification. The company plans to integrate hydrogen-fuel at the Luanda refinery and is embracing cleaner and more sustainable energy practices. Additionally, a focus on local content and capacity building has seen Sonangol reduce its reliance on foreign personnel, advance opportunities for the local population, while spearheading a number of impactful energy developments that unlock lucrative opportunities for the Angolan economy. Now, Sonangol’s assets are valued at over $51.5 billion, with over 13,000 individuals employed at the company.
“Sonangol truly represents an integrated energy company of the future. From operating as an NOC, the company has gradually transformed itself into a competitive energy player, and continues to make great strides towards unlocking the true potential of Angola’s energy resources. Sonangol has shown how NOCs can be used to drive large-scale development, mobilize sizeable investments and usher in a new era of sustainable energy projects in Africa,” states NJ Ayuk, Executive Chairman of the AEC.
As a platinum sponsor, Sonangol will take center stage in all discussions around Africa’s energy future. The Sonangol delegation will participate in several panel discussions and NOC forums while engaging with investors from across the global energy sector.
AEW is the AEC’s annual energy event uniting African governments and policymakers with global investors and project developers. Serving as the biggest gathering of energy stakeholders on the continent, the event takes place under a mandate to making energy poverty history by 2030. For more information about attendance, partnership and sponsorship opportunities, visit www.aecweek.com.