In The News
Sonangol signed a contract with ENI to upgrade current plans for the completion of the Lobito refinery site, which has been delayed for some time. Delays have been attributed to rising costs and financing problems.
Angola’s state-run firm is seeking ENI’s expertise in the downstream sector to finalize the site, which was originally slated for completion four years ago.
Sonangol and ENI plan to increase demand on investments in the upstream sector, in particular in the operated Block 15/06 for the development of the West and East hubs.
Negotiations also included the ongoing evaluation of the gas resources in the Lower Congo Basin that are expected to help boost domestic energy supplies and diversify the country’s economy.