Courses for Investment in Oil Sector Soon

14 May 2011

Lobito — Courses for integration of new companies in the oil sector will be run in the country soon, with priority for Angolan firms, Angop learned Friday in central Benguela province.

The information was released by the CEO of the Angolan Oil Company (SONANGOL), Manuel Vicente.

The official was speaking at the inauguration of the headquarters of SONAMET Industrial S.A (industry for manufacture of metallic infrastructures for oil prospecting and production).

According to him, there is need for angolanisation of the oil sector, as an effort to create more wealth and valorise the country’s potential.

The manager warned that in the beginning some national companies might find difficulties meeting the challenges, due to the lack of technology, human resources and other requirements of the oil sector.

He said the national companies should not fear to enter the oil market as, he added, other countries that are now considered developed in the sector also experienced difficulties.

“The country loses millions and millions US Dollars that despite being the result of local activities go to other countries that invest in the Angolan market,” Manuel Vicente stated.

He said SONAMET Industrial that has had its social headquarters inaugurated on Friday in Lobito city, is contributing to the country’s economic development which, he added, is a motive of satisfaction.

According to him, the investments that led to the creation of SONAMET Industrial S.A. more than 15 years ago, are resulting in development, far beyond expectations.

He added that the results are encouraging to continue investing in the creation of national companies, in partnership with foreign firms.

SONAMET is a national company comprising SONANGOL (Angola) with 40 percent, ACERGY (French) with 55 percent and WAPO (05).

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