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Sonangol, ExxonMobil agree Angola MoU

Dec 16, 2018
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Angolan state oil company Sonangol and U.S. oil giant ExxonMobil have signed Memorandum of Understanding (MoU) defining the intention to enter into a set of risk service contracts for Blocks 30, 44 and 45 in the Namibe Basin, offshore Angola.

Carlos Saturnino Chairman of the Board of Directors of Sonangol and Andre Kostelnik General Manager of ExxonMobil in Angola, signed the MoU, which reinforces cooperation agreements between both companies.

In a speech, Carlos Saturnino said that the MoU is part of the Angolan government's plans to attract foreign investment, and marks the beginning of a new era and in oil exploration in the country.

Andre Kostelnik said that the U.S. firm was very enthusiastic about strengthening cooperation with Sonangol and was interested in continuing to work in Angola.