Sonangol Chairman Announces Exploration Well on Block 24, Highlights Downstream Expansion
The Chairman of the Board of Directors of Sonangol, Sebastião Gaspar Martins, announced that the company will drill an exploration well on Block 24, located in the South Kwanza Basin—an underexplored asset with high potential.
During an informal dialogue at AOG 2025, Gaspar Martins emphasized that the company remains committed to investing in the upstream sector, using the capital generated by these projects to support the development of Angola’s oil value chain.
“Until 2019, we held the concessionaire role, which is now performed by the National Oil, Gas, and Biofuels Agency (ANPG). Freed from that function, we positioned Sonangol as a company capable of holding interests in approximately 41 concessions. We remain focused on the exploration and production of oil and gas. This allows us to drive the development of other sectors. We will drill an exploration well on Block 24, which will bring us additional reserves. We will continue to be the largest investor in Angola’s oil sector,” stated Gaspar Martins.
Sonangol is also advancing ambitious projects in the downstream sector. In 2025, the company began operations at the Cabinda Refinery, whose first phase added 30,000 barrels per day to the market. Concurrently, it is investing in downstream infrastructure, logistics, and transportation, aiming to position Angola as a regional oil hub.
“We are present across the entire oil and gas value chain. This means that over the last 50 years, we have served the country by distributing petroleum products and selling to the international market using our own means. We operate approximately 12 ships and provide logistical support to the entire oil industry,” added the Sonangol Chairman.
Beyond upstream investments, Sonangol has played a central role in developing national human capital through partnerships and initiatives that strengthen skills, promote technology transfer, and encourage local participation in the sector. Notable programs include SonaJovem, which aims to introduce 50 high-impact startups to the Angolan market, as well as agreements signed with the Massachusetts Institute of Technology (MIT) in the United States, supporting the utilization of natural resources through joint research, knowledge exchange, and academic mentorship.
“We are also a company with a responsibility to develop our youth. SonaJovem will serve to support the growth of young entrepreneurs in the oil sector. From 18,000 applicants, we selected 6,000. We have 150 young people in incubation, with the goal of becoming future entrepreneurs,” concluded Gaspar Martins.
