Sonangol — National Oil Company

Angola's National Oil Company

Sonangol is Angola's national oil company and holds a 20% working interest in the Kaminho project. Historically the country's most important economic entity — controlling petroleum concessions, exploration rights, and production sharing agreements — Sonangol has undergone radical transformation since 2017 under President João Lourenço's reform agenda.

The restructuring separated Sonangol's regulatory role (transferred to the ANPG) from its commercial operations, refocused the company on upstream petroleum, divested non-core assets (banking, insurance, real estate, airlines), and improved financial transparency. At FID, Sonangol CEO Gaspar Martins stated: "The final investment decision of the Kaminho project materializes the commitment and efforts made by the Angolan government, through its Ministry and National Concessionaire, and TotalEnergies, Sonangol and Petronas as partners."

Block 20/11 History

Sonangol played a central role in Block 20/11's complex ownership history. When Cobalt International Energy filed for bankruptcy in 2015, Cobalt agreed to sell its 40% interest to Sonangol for $1.75 billion, but the transaction was disputed. The companies settled through arbitration in 2018, with Sonangol paying approximately $500 million. Sonangol subsequently sold a 50% stake to TotalEnergies in 2019 for $400 million (plus FID and contingency payments), and the current consortium was established when Petronas acquired its 40% stake in 2023.

R&D Partnership with TotalEnergies

At the FID ceremony, TotalEnergies and Sonangol EP signed a Memorandum of Understanding to cooperate on research and technology. TotalEnergies will support the development of Sonangol's new Sumbe R&D center, focusing on reservoir geology, process electrification, photovoltaics, methane emissions reduction, and decarbonization technologies. This MOU represents a significant step in Sonangol's evolution from a primarily administrative entity to a technology-capable upstream operator.

For Sonangol's broader context within Angola's petroleum sector, the regulatory framework, and the strategic outlook, see our dedicated pages.