Reorganisation of the oil sector in Angola intends to increase Sonangol’s efficiency

10 October 2018

The new model of organisation of the oil sector in Angola aims to make state oil and gas company Sonangol more efficient and eliminate conflicts of interest, the Minister of Mineral Resources and Oil said on Tuesday in Luanda.

Diamantino Azevedo, speaking at a meeting where the National Oil and Gas Agency (ANPG)’s Installing Commission presented the new model to the operators, said the reorganisation of the sector will not create obstacles for companies, according to Angolan news agency Angop.

The minister added that by passing Sonangol’s role as a concessionaire onto the ANPG, the state-owned company will once again focus on the oil chain, from prospecting and exploration to sales.

This process, Azevedo said, will lead to the privatisation of some companies outside the core activity of the group and also the partial privatisation of Sonangol in the future, with shares listed on the stock exchange.

Jorge Abreu, deputy coordinator of the ANPG Installing Commission, presented the model and detailed the three stages of the process of transferring the concessionaire function to the new institution.

The first phase, until January 2019, will be preparation, the second from January to June will be transition, and the third, starting in June, covers the migration of assets from Sonangol to the Agency. (macauhub)

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