Angola’s Sonangol undergoes restructuring
Angola’s national oil company (NOC) Sonangol has officially launched its Regeneration Program.
The program will target the restructuring of Sonangol in order to make it more competitive and profitable, focusing on the primary value chain and contributing to the improvement of the performance of Angola’s oil sector.
It also aims to promote and intensify activities to replace reserves and increase hydrocarbon production in the medium-to-long term, taking international standards into consideration.
The Regeneration Program will be implemented over a period of 30 months, with specific goals that the NOC aims to accomplish in different phases.
Phase zero is the preparation phase and will take six weeks to complete. It will be followed by phase one, which will see the implementation of a structure-defining roadmap, and aims to achieve results in the first five months of execution.
Phase two will be implemented over 24 months and includes the execution of operational improvements and structuring measures.
The Regeneration Program covers the entire Sonangol value chain, including complementary businesses, and will involve the analysis of organizational and strategic aspects, processes and investments.
The program will be developed by various Sonangol teams and consultants who will work daily on its implementation, with the ultimate goal of creating a dynamic transformation of the group.
Endorsed by the Ministry of Mineral Resources and Petroleum, Africa Oil & Power will organize the first Angola Oil & Gas conference, which will be held on June 4-6, 2019 in Luanda. Registration is now open.