reception of proposals
The Strategy of Sonangol for Partial Assignment of Participating Interests in Exploration and Production Assets was approved by the President of the Republic of Angola, by dispatch n. º 001/ 040APR-GPR.01.21/2021on 01/01/2021.
Accordingly, the primary purpose of the aforementioned strategy is to guarantee the financial liquidity to cover the investment in new exploration blocks, the fulfillment of obligations in the blocks in which Sonangol holds participating interest and, also contribute to the assumption of the financial commitments of the Sonangol Group.
The implementation of the strategy is based on the following:
- Promote the financial stability of the oil and gas concessions;
- Ensure the implementation of the investments in Sonangol’s Exploration and Production Strategy;
- Efficiently manage Sonangol P&P’s crude oil withdrawal rights;
- Guarantee the self-sufficiency of the downstream activity;
- Mitigate risk and reduce Sonangol’s financial exposure.