Sonangol Clocks 45 Years in Service of Angola
The Angolan state-owned oil company has been operating since 1976, and despite experiencing political and economic challenges, the company has remained resilient, and has helped transform the country’s oil and gas sector into a global success story, while building a reputation as Africa’s leading national oil company.
The Minister of Mineral Resources, Petroleum and Gas, H.E. Diamantino Azevedo, stated that Sonangol has contributed to the growth and sustainability of the country’s petroleum industry – thereby guaranteeing a greater return for the state – and has supported the participation of companies and national staff in the sector’s activities. Sonangol has been a major contributor to the socio-economic development of Angola.
More recent achievements include the implementation of a series of reforms intended to further boost sectoral success and focus Sonangol’s activities on its specific value chain. By restructuring both Sonangol and the sector and transferring the concessionary function to the National Oil, Gas and Biofuels Agency (ANPG), Sonangol was able to become more profitable and efficient.
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