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SONANGOL STARTS REGENERATION PROGRAM​

Sonangol E.P., launched officially its Regeneration Program approved by the President of the Republic, João Lourenço, on September 26th September 2018...
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SONANGOL STARTS REGENERATION PROGRAM
   
 
The National Fuel Company of Angola - Sonangol E.P., launched officially, on November 15th, 2018, its Regeneration Program approved by the President of the Republic, João Lourenço, on September 26th September 2018.
 
The implementation of the Regeneration Program places the focus of the state enterprise on the activities of the petroleum industry value chain, namely: exploration, research and production of crude oil and natural gas, refining, liquefaction of natural gas, transportation, storage, distribution and commercialization of derived products.
 
The Chairman of the Board of Sonangol E.P, Dr. Carlos Saturnino, believes that "The Renewal Program is a structuring project that will prepare Sonangol EP for the future, reinforcing the Group's role in the African Continent, observing the international standards, while contributing, in an increasingly pronounced way, to the economic development of Angola and the national energy sector. "
 
Sonangol EP's Board of Directors, in conjunction with the Ministry of Mineral Resources and Petroleum, has developed actions to strengthen the Company's presence in the oil value chain, enhance human capital and enhance its history and technical capacity, in line with the following strategic objectives established for the Company for the five-year period 2018-2022:
 
1. Regenerate Sonangol to make it more competitive and profitable, focusing on the primary value chain, observing the international QHSE standards (Quality, Health, Safety and Environment);
 
2. Contribute to the improvement of the performance of the oil sector in Angola;
 
3. Boost and intensify the activity to substitute reserves and increase hydrocarbon production in the medium / long term;
 
4. Promote the Prospection, Research, Development and Production of Natural Gas, to guarantee the availability for internal use and export;
 
5. Promote the increase in the domestic production of Crude Oil, reinforcing the role of Sonangol Pesquisa e Produção, making it more efficient;
 
6. Foster and encourage the development of a robust national industry to support the oil sector;
 
7. Increase domestic refining capacity to reduce dependence on imports;
 
8. Consolidate the integration of the refining, transportation, storage and commercialization of refined products, with a focus on promoting efficiency and liberalization of the fuel market;

9. Optimize the organizational development, human resources and technological to increase the productivity of the company.
 
The same Regeneration Program also embodies the Mission, Vision and Values defined for the company until 2022.
 
Mission "To contribute to the sustainability and growth of the national oil industry, in order to guarantee a greater return to the Angolan State, supporting the participation of companies and national staff in the sector's activities, for the socio-economic development of Angola."
 
Vision "To become a reference company for the oil sector in the African continent, committed to sustainability."
 
Values "Humility; Discipline and Seriousness; Ethical Conduct; High performance; Respect for Stakeholders; Teamwork; Loyalty; Rigor. "
 
To successfully implement the Regeneration Program, it is divided into three Operational Blocks and an Organizational Support Block that aims to support the activity of the organization, which will be developed simultaneously.
 
AXIS OF OPERATIONAL PROCEEDING 1 | CORE BUSINESS:

Block 1 - Exploration & Production;
Block 2 - Refining & Petrochemical;
Block 3 - LNG & LPG;
Block 4 - Fuel Logistics;
Block 5 - Distribution & Commercialization;
Block 6 - Business Continuity.
 
AXIS OF OPERATIONAL PROCEEDING 2 | FINANCIAL RESTRUCTURING & PORTFOLIO:
 
Block 7 - Corporate Finance;
Block 8 - Non-core subsidiaries;
Block 9 - Investments.
 
AXIS OF OPERATIONAL PROCEEDING 3 | REGULATORY FRAMEWORK:
 
Block 10 - Regulatory framework of the sector.
 
ORGANIZATIONAL SUPPORT AXIS:
 
Block A - Digitization, Systems, Technology and Information Security;
Block B - Skills Development capitalizing Sonangol Academy structures;
Block C - Managing change, Public Relations and Communication.
 
The Regeneration Program will have three phases of implementation in 30 months:
 
Phase 0 - Preparation of program start-up;
Phase 1 - Implementation of Actions with Results in the Short Term and definition
of the Roadmap for Operational Improvements and Structural Measures;
Phase 2 - Implementation of the Roadmap for Operational Improvements and Structural Measures.
 
 
Communication and Image Directorate in Luanda, on 15th November, 2018.

 

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