Luanda - Angolan oil company Somoil aims to build at least 40 fuel stations all over the country through an initial 15 million US dollars, the Somoil CEO, Edison dos Santos, has said.
Currently, four fuel filling stations are under construction in the provinces of Luanda, Bengo and Zaire that will start operations in 2023.
Speaking to ANGOP, on the sidelines of the "Angola Oil & Gas Awards" Gala held by the consulting company Petro Angola, the Somoil CEO said the goal is to contribute to increase of employment in the country.
The Somoil CEO, who was elected "Executive of the Year" in the referred Gala, highlighted the transformation that the oil company has been going through in the last few months, such as the improvement of the security at work and production increase, which went from 7000 to 18 000 barrels of oil output per day (KBPD).
With stakes in blocks 14, 18 and 31, in the Angolan offshore, the company is the operator of blocks 2/05 and foresees, for 2025, a production of about 40 000 barrels per day .
Besides the distribution of crude oil refined products, the company is also preparing to enter the renewable energy sector with the assembly of solar panels, as part of the diversification of its business.
Going Public
According to Edison dos Santos, the preparations for Somoil to enter the Angolan Debt and Securities Exchange (BODIVA) are very advanced, without revealing the percentage of the shares.
"The process is very advanced and there is a lot of work. We are reorganizing our finances, the internal and external auditing process, to prepare ourselves for the stock market listing", Edilson dos Santos said, pointing out 2024 as the expected date for the listing.
In 2021, Somoil’s profit was fixed at 40.9 million dollars.
