Sonangol to sell blocks 21/09, 20/11

LUANDA, March 2, 2018 – Sonangol announced plans for a tender of blocks 21/09 and 20/11, international media reported Thursday.

“I’d like to extend a general invitation to the oil industry to analyse the data on these oil concessions,” Sonangol head Carlos Saturnino was quoted by Bloomberg as saying. “The goal is to have a business group that is less heavy, smaller and more agile.”

The company is looking at selling other assets, such as its stakes in local banks and SonAir, as well.

Saturnino also said his predecessor, Isabel dos Santos, had authorised a USD 38-million transfer to a company in Dubai four days after her dismissal from the NOC. “How can people who had been dismissed by the government still carry out transfers? It absolutely cannot be an act of good faith,” he said.

Angolan President João Lourenço removed Dos Santos from her post as head of Sonangol in November 2017. She had been appointed as head of Sonangol by her father, then President José Eduardo dos Santos, in June 2016, after the company’s board was sacked by presidential decree.

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