Luanda - Angola Oil Company Etu Energias plans to supply 25 percent of the country's need for lubricants in the medium term, with the installation of a plant with capacity to produce over 12,000 metric tonnes of refined products a year, its CEO Edson dos Santos has said.
The initiative, which will be a partnership between Etu Energias and Malaysia's Glide Technology, aims to reduce the country's import levels of oil by-products, which consume around 40,000 metric tonnes of refined products a year.
Speaking at the launch of a line of lubricants produced in Malaysia, Santos said the installation of the factory in the country would help to provide innovative and quality products and turn the national market into a dynamic one.
"In the long term, we're going to start producing more than 12,000 metric tonnes of lubricants locally, to cover 25% of domestic consumption, in an investment of more than five million dollars," Santos said.
Santos added that, while the factory is to be built in Angola, these refined products will be imported from Malaysia.
With an investment of around five million dollars , the Malaysian refinery includes a line of seven multi-purpose products for petrol and diesel engines for vehicles, ships, electric motors and industrial machinery with low levels of pollution.
According to Edson dos Santos, these products, which are internationally certified, are environmentally friendly and have a low sulphur content, with a longer lifespan of periodic maintenance intervals.
The Malaysian company's managing director, Dato Muhazli Muhamad, on his turn said the construction and installation of the industrial equipment will have an initial cost of five million dollars.
He explained that work is underway to identify the site, with the prospect of starting work later this year.
Etu Energias is one of the Luanda-based largest 100 percent Angolan private energy companies founded in 2000.
The oil company is among the nine companies qualified as operators in blocks CON2 and CON8, as a result of the recent international public tender for exploration in the Low Congo and Cuanza Kwanza onshore basins.OF/QCB/AMP
