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Vol 50 No 14

Published 10th July 2009


Sonangol goes international

The state-owned oil company is expanding and forming new partnerships, but the new focus is gas development, with tax incentives for exploration

Undaunted by the collapse of the international oil and gas market, Luanda's state-owned oil company Sonangol is setting its international sights ever higher. On the back of Angola's prodigious hydrocarbon reserves, Sonangol is buying up acreage in Algeria and Iraq, as well as going into partnership with Portuguese construction company Mota-Engil and with China's Beiya International Development to form China Sonangol, which has bought assets in Africa, Asia and Latin America.

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