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Sonangol and Equinor Sign Cooperation Agreement

Sunday, June 2, 2019

Sonangol signed a Memorandum of Cooperation (MoC) with Equinor to strengthen cooperation between the two companies. The memorandum was signed at Sonangol’s headquarters in Luanda.

The agreement targets joint exploratory activities in the lower Congo Basin, the discussion of joint operating agreements that would allow Sonangol to further develop as an operator, and the sharing of knowledge and skills aimed at transforming the state-run firm into a commercial oil company.

The two will also work together to identify potential joint investments.

This MoC builds on a MoU signed by the two in June 2018 which focused on joint investment in exploration and production activities in-country and laid the foundation for potential future investments to be made by Equinor in Angola.