Angola: Sonangol, ExxonMobil Sign Oil Exploration Deal

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Sonangol EP and ExxonMobil Corporation have signed a Memorandum of Understanding defining the intention of signing the risks with service contracts , for Blocks 30, 44 and 45 of the Namibe Basin.

Carlos Saturnino and Andre Kostelnik, Chairman of the Board of Directors of Sonangol EP and General Manager of ExxonMobil in Angola, respectively, were the signatories to the Memorandum, which represents the reinforcement of the cooperation agreements between the two companies.

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Mr Saturnino emphasized that the Memorandum is part of the Angolan government’s guidelines on the attraction of foreign investment, and marks the beginning of a new era and the relaunch of the oil exploration strategy in Angola, which involves activities of prospecting and research.

Source: ABC


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