Sonangol has conditions to be international oil company

5 October 2006

Luanda, Angola, 05 Oct – Angola’s oil company, Sonangol has the conditions to compete on an international level with large power and gas companies, as it is a state company, Accenture executive, Alexandre Oliveira said in Luanda Wednesday.

Speaking on the sidelines of a seminar on “Challenges and Threats for the Oil Business,” Oliveira said that Sonangol also had the advantage of owning large oil fields currently under development, according to Angolan news agency Angpop.

In order to become an international company, Oliveira added, Sonangol should establish string cooperation with state companies from other countries that have similar cultures and strategies.

Given that Sonangol planned to become an international company, he added, that the company should focus on developing cutting edge technology on a national level, as this was a fundamental component of oil exploration in ultra-deep waters.

According to Oliveira, Sonangol should continue to focus on training its human resources and a corporate culture that is compatible with the companies it will partner, as well as taking on more international staff.

Accenture, an international management and information technology consulting company, in 2005 carried out research in order to understand the future of relations between national and international oil companies.

According to Accenture’s research, for which the company interviewed 20 heads of state companies from several oil-producing countries and ten executives from international companies, state companies in the oil sector are looking to establish new relations with international oil companies, at a time when they are expanding globally. (macauhub)