Angola’s Sonangol and Eni sign deal for refinery optimization

December 21, 2015 | Angola, Refining & Processing

Luanda, Angola | — A compromise agreement, which will result in the updating of plants of the refineries of Luanda and Lobito (Benguela), was signed recently by the chairperson of the Board of Directors of Sonangol EP, Francisco de Lemos José Maria, and the CEO of the Italian oil company (ENI), Cláudio Descalzi.

According to a press note from Sonangol in Luanda, the agreement also provides for the optimization and consequent increase in the potential of the Luanda refinery, to increase its refining capacity and consequent reduction of the amounts of refined products to import.

The act also allowed it to reach agreement on the necessary tools to increase investment in the sector, with particular emphasis on the block 15/06 where ENI carries out development activities.

The meeting also discussed the progress of the ongoing evaluation of gas resources in the Bas Congo Basin, which could result in energy production for the domestic market, supporting the economy and agricultural projects under the diversification of the national economy.

This deal seals a series of contacts and agreements that started last November in Rome, Italy.