Angola’s national oil company (NOC) Sonangol has conveyed interest in collaborating with the Nigerian National Petroleum Corporation (NNPC) to advance Angola’s downstream sector.
During a meeting held in Abuja, Nigeria, between a Sonangol delegation and NNPC representatives, parties discussed key agenda items includin improving downstream logistics and mechanisms of sales and distribution for petroleum products.
Led by Sonangol Executive Committee Member for Distributions, Ana Paula Marranjal Mesquita Do Carmo, the NOC delegation is currently in Nigeria on a benchmarking visit, studying the NNPC’s operations and procedures regarding distribution and touring the company’s downstream facilities.
According to Do Carmo, Angola is transitioning from a monopolistic market to a competitive market and Sonangol needs to learn from an established and functional system such as the NNPC.
For Angola, where crude oil production currently stands at 1.14 million barrels per day (bpd), the future partnership will be critical for improving the southern African country’s downstream sector and for creating a competitive domestic petroleum market. Representing an established NOC which is currently transitioning to a limited liability company – aimed at making the company commercially efficient – the NNPC has key technical expertise and experience to offer Sonangol from a knowledge sharing point of view.
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Meanwhile, for the NNPC, a public company eager to partner with companies such as Sonangol, collaboration aims include adding value to counterpart energy supply chains while improving energy security across the African continent. The NNPC-Sonangol collaboration triggers a new era of growth and cooperation among African NOCs.