Luanda – The state-owned oil company Sonangol E.P., and Quantem Consortium Angola LLC firm, signed this Monday a memorandum of understanding, with the principles and guidelines for the investment and development of the Soyo Refinery.
According to a press release from the Angolan oil company that arrived at ANGOP, the memorandum of understanding outlines the period for carrying out the activities, obligations and responsibilities inherent to the construction of the refinery in the Municipality of Soyo, northern Zaire Province, with a processing capacity of up to 100,000 barrels of crude oil per day.
The Soyo Refinery will rely on 100% private investment, which will promote the creation of jobs and contribute to the increase in Angola's refining capacity and the consequent reduction in the import of oil by-products.
The project will feature an evolving technology, based on environmental sustainability, with greater reduction in carbon emissions.
However the bid was launched in mid 2019, with the winner being announced on March 16, 2021.
The event was attended by the secretary of State for Petroleum, José Barroso, the Ambassador of the United States of America to Angola, Nina Maria Fite, the CEO of Sonangol EP, Gaspar Martins, executive directors, representative of the Quantem consortium , Segun Thomas, as well as managers and members of the negotiating team of both companies.
