Sonangol EP - Strategic Objectives

Thursday, October 22, 2020

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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.

Goals

To become a reference company for the oil sector in the African continent, committed to sustainability.

Strategic Objectives

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:

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)
Contribute to the improvement of the performance of the oil sector in Angola;

Boost and intensify the activity to substitute reserves and increase hydrocarbon production in the medium / long term;

Promote the Prospection, Research, Development and Production of Natural Gas, to guarantee the availability for internal use and export;

Promote the increase in the domestic production of Crude Oil, reinforcing the role of Sonangol Pesquisa e Produção, making it more efficient;

Foster and encourage the development of a robust national industry to support the oil sector;

Increase domestic refining capacity to reduce dependence on imports;

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;

Optimize the organizational development, human resources and technological to increase the productivity of the company.

Corporate goals

Sonangol’s primary purpose is prospecting, research, development, production, transportation, commercialization and transformation of liquid and gaseous hydrocarbons and their derivatives, including petrochemicals.

By decision of its Board of Directors, and without prejudice to what is specifically provided by law, Sonangol may also engage directly or indirectly in activities complementary or ancillary to its corporate purpose or any other industrial or commercial purposes..

In pursuing its goals, Sonangol may constitute new companies and acquire all or part of the capital of an established company and whenever it detains a totality or a majority of the voting capital of said companies, it will establish the coordination, economic and financial direction and the business development of the said company.
Sonangol may, in terms of applicable legislation, establish in conjunction with national and/or foreign entities the type of association and cooperation that is most beneficial to the fulfillment of its corporate goals.

When establishing companies and joint ventures, Sonangol shall observe the principles of specialization and vertical integration, in order that the companies thereby constituted maintain their legal identities.

Foreseeing the entry of domestic private companies in the oil sector, Sonangol expanded its business and level of expertise to prepare for free competition.

Our values

Humility

Discipline and seriousness

Ethical conduct

Self-performance

Respect for stakeholders

Teamwork

Loyalty

Rigor

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