Sonangol President, Sebastião Gaspar Martins, will participate in the Angola Oil & Gas (AOG) 2025 conference to share insights on Sonangol’s evolving strategy and its role in defining the future of Angola’s energy industry. With stakes in 35 oil and gas concessions and daily production exceeding 200,000 barrels per day (bpd), Sonangol continues to drive Angola’s upstream growth. The company is an active participant in the country’s multi-year licensing round – launched in 2019 – and has qualified as both operator and non-operator in various blocks. As Angola prepares to launch a new bidding round in 2025, Sonangol is expected to continue being a key player in exploration and production.
To support its upstream expansion, Sonangol is preparing an Initial Public Offering (IPO), which will make 30% of the company’s shares available to investors. The IPO will provide critical funding for Sonangol’s E&P portfolio and further solidify its position as a major operator. At AOG 2025, Martins is expected to share updates on the IPO and outline Sonangol’s upstream development strategy.
AOG is the largest oil and gas event in Angola. Held with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Agency for Petroleum, Gas and Biofuels; the Petroleum Products Regulatory Institute; the national oil company Sonangol; and the African Energy Chamber; the event is a platform for signing agreements and advancing Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Beyond upstream, Sonangol aims for a significant increase in refining capacity, targeting 445,000 bpd. The development of three new refining facilities in Angola – intended to complement the operating Luanda refinery – is the cornerstone of this objective. The Cabinda refinery is expected to come online in 2025, with a capacity of 60,000 bpd. Other projects include the Lobito refinery, with a capacity of 200,000 bpd, and the Soyo refinery, with a capacity of 100,000 bpd, with Sonangol currently seeking $4.8 billion in financing for Lobito’s development. At AOG 2025, Martins will engage with investors and project developers to accelerate progress on these key infrastructure assets.
Sonangol is also a strategic partner in several major projects, including the Agogo Integrated West Hub Development, the New Gas Consortium’s non-associated gas project, and the Kaminho Deepwater Development. Additionally, Sonangol has expanded into industrial and renewable energy projects. In 2024, the company signed an agreement with Turkish group Tosyali to develop the Kassinga mining and steel project, with production scheduled for 2027. In renewable energy, Sonangol is establishing a partnership with Conjuncta, CWP, and Gauff to develop the Barra do Dande green hydrogen project, following an agreement signed at AOG 2024. These initiatives reflect Sonangol’s broader development strategy, positioning the company as a driver of Angola’s long-term energy and industrial growth.
