On the threshold of Angola's Independence, a working group was set up in the oil industry both to support the industry and to mobilize Angolans working in the business. The main objective was the strategic preparation of the oil industry after the proclamation of independence.
From the nationalization of ANGOL in 1976, two companies were formed: Sonangol U.E.E. and Direcção Nacional de Petróleos. ANGOL Sociedade de Lubrificantes e Combustíveis Sarl, which was founded in 1953 as a subsidiary of the Portuguese company SACOR, marketed and distributed fuels, lubricants and liquefied gas in Angola.
Decree 52/76 instituted Sonangol as a state owned company whose mission was the management of hydrocarbon resource exploration in Angola. Despite having the government as the sole shareholder, Sonangol has always been governed as a private company and is under strict performance standards to ensure efficiency and productivity.
After the incorporation of Sonangol, a management committee was established to create the necessary infrastructures for the company to start developing its business activities. The management committee was later converted into a board of directors.
In the aftermath of the independence several oil companies abandoned Angola for one reason or another, leaving behind its infrastructures and former employees. To this end, Sonangol bought the premises of Texaco, Fina and Shell and through an agreement acquired those of Mobil. In this process Sonangol also absorbed former employees of oil companies that once operated in Angola.
| Timeline 1976: Establishment of Sonangol U.E.E. 1983: Institution of the first international subsidiary, Sonangol Limited in London, England. 1991: Attribution of the first oil concession in deep waters on block 16. 1992: Establishment of subsidiary Sonangol P&P as an oil company. 1999: Sonangol U.E.E. becomes Sonangol E.P. 2003: Sonangol begins operating as an oil company with the grant of offshore
block 3. |
The absence of qualified nationals for the local oil industry, forced Sonangol to begin paying special attention to the training and professional development of its employees. The first group of students was sent to Italy with scholarships co-aided by ENI-Italian Oil Group. A second, larger group went to Algeria. The first sponsored students graduated and returned to Angola by the end of 1970s. They became the driving force behind a more modern Sonangol.
Focusing on diversifying its business activities, Sonangol has developed joint-ventures and established companies that promote both the social development of Angola and the expansion of Sonangol. Prioritizing the management of hydrocarbons, environmental protection and industrial safety, Sonangol has created a diversified business that is centered around oil. More than 30 subsidiaries and joint venture companies are now part of Sonangol Group.
With a mixed economic status, Sonangol has expanded its core business into other activities and today is a self-made multinational company.
With headquarters in Luanda, Sonangol is proud to be the only company with representations in the whole country. Overseas the company has offices in:
- Brazzaville, Congo
- Hong Kong, China
- Houston, USA
- London, England
- Singapore, Singapore
About to celebrate its 30th anniversary, Sonangol has gained prestige and built a solid reputation in the oil industry both in Angola and abroad. This is a direct result of great relationships with the oil companies which operate, or which have interests and investments, in Angola.
During three decades Sonangol has expanded into a group of integrated companies and in the process became Angola's leading distributor of refined products and promoter of social and human resources development.
