Sonangol’s production increases by 10% to 20%
CEO Sebastião Martins stated that Sonangol has increased its production by 10% to 20%, the equivalent to 1,400,000 barrels per day, above national average production.
On the 5th of June, during the “Oil & Gas 2019” conference, Sonangol’s CEO, Sebastião Martins, stated that the company is aiming at increasing its production through the acquisition of new blocks, taking place on the 2nd of October. To achieve that goal, the Angolan Oil & Gas company is also looking to broadening its cooperation with some “core-business” partners around the world.
Martins has also stated in a press conference later that day that Sonangol has increased its production by 10% to 20%, the equivalent to 1,400,000 barrels per day, above the national average production. These seem to be positive news for the Angolan state-owned company, currently undergoing a process of privatising 52 smaller companies part of the group.
Last March, after a severe supply crisis, Sonangol granted a 12-month concession to Total and Trafigura for the supply of diesel fuel to Angola. On the 8th May, as a direct consequence of the crisis, Angolan President João Lourenço replaced former CEO Carlos Saturnino with Sebastião Martins.