Africa-Press – Angola. The Sociedade Nacional de Combustíveis de Angola (SONANGOL EP) intends, for the 2023-2027 cycle, to increase the share of domestic production operated by up to 10 percent of crude oil and natural gas refining capacity to reduce dependence on imports.
The data was disclosed this Wednesday, in Luanda, by the chairman of the Board of Directors, Sebastião Gaspar Martins, during the III International Conference on Oil & Gas, an initiative of the African Chamber of Energy and the Ministry of Mineral Resources, Oil and Gas.
According to the PCA, the company’s priorities are also the development of at least one petrochemical complex, the production of electricity from renewable sources, an increase in storage capacity, optimization and profitability of logistics services, as well as distribution and commercialization of refined products.
Also part of this strategy is the control and reduction of at least 20 percent of carbon dioxide (CO2) emissions in exploration and production operations, refining, increased carbon capture in the implementation of the Carbono Azule project.
The manager also explained that the country is still dependent on the import of refined products at a level of domestic consumption that exceeds 4 million metric tons per year, of which around 30 percent are guaranteed by the Sonangol EP refinery in operation.
“Despite the country’s oil rights, estimated at more than 200,000 barrels/day, three projects are being built that are already underway, which will increase the country’s refining capacity to around 425 barrels/day and an increase of 580 thousand cubic meters of storage capacity and distribution infrastructure to meet current and future demand in the region”, he said.
Hydrogen project
According to Gaspar Martins, along with the “Downstream” and solar energy market projects, the public oil company is also committed to implementing the green hydrogen project to be carried out at the company’s research and development center in partnership with two German companies, where a memorandum was also signed for the construction of the country’s first bio-refinery, with start-up scheduled for before 2027.
With a focus on the oil and gas value chain, not just on the topic of energy transition, the sector is more creative in managing businesses with more responsibility. There is also, according to Sonangol’s PCA, the need to bring the continent to self-sufficiency in terms of energy production, availability and accessibility, which have been catalysts for the long-term strategic repositioning of the oil company.
As Sebastião Gaspar Martins said, faced with multiple constraints and accepting the challenges of contributing to the industrialization of the continent, Sonangol EP adopted a fair energy transition strategy, which is based on a portfolio diversification approach.
“With this approach, Sonangol EP has oil as its main business pillar, gas as the primordial engine for cleaner energy production and having advanced in renewable energy investment with ongoing projects, with two photovoltaic plants, in partnership with a renowned company, which combined will increase the production of solar energy to around 150 megawatts”, he said.
Sustainable energy
Sebastikão Gaspar Martins said, on the other hand, that the state oil company still intends to act in the sustainable development of energy, including hydrocarbons, guaranteeing a greater return for shareholders and society.
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