According to Do Carmo, Angola is transitioning from a monopolistic market to a competitive market and Sonangol needs to learn from an established and functional system such as the NNPC.
For Angola, where crude oil production currently stands at 1.14 million barrels per day (bpd), the future partnership will be critical for improving the southern African country’s downstream sector and for creating a competitive domestic petroleum market. Representing an established NOC which is currently transitioning to a limited liability company – aimed at making the company commercially efficient – the NNPC has key technical expertise and experience to offer Sonangol from a knowledge sharing point of view.
Meanwhile, for the NNPC, a public company eager to partner with companies such as Sonangol, collaboration aims include adding value to counterpart energy supply chains while improving energy security across the African continent. The NNPC-Sonangol collaboration triggers a new era of growth and cooperation among African NOCs.