Sonangol Advances Exploration Strategy with Block 24 Development Plans
Sebastião Gaspar Martins, Chairman of Sonangol, has confirmed the company’s commitment to drilling an exploration well at Block 24 in Angola, located in the southern Kwanza Basin. This largely unexplored asset holds significant hydrocarbon potential and represents a key component of Sonangol’s upstream expansion strategy.
Since transitioning from its former concessionaire role in 2019, which is now managed by the National Oil, Gas & Biofuels Agency, Sonangol has strategically positioned itself with stakes in nearly 41 concessions. The company remains focused on exploration and production activities while enabling development across other sectors of Angola’s energy industry.
“Drilling an exploration well at Block 24 will bring additional reserves, reaffirming our position as the largest investor in Angola’s oil and gas industry,” Gaspar Martins stated. The company is simultaneously advancing downstream projects, including the Cabinda Oil Refinery, which commenced operations in 2025 with an initial capacity of 30,000 barrels per day.
Beyond operational expansion, Sonangol is investing heavily in human capital development through initiatives like SonaJovem, which aims to introduce 50 high-impact startups to Angola. The company has also established partnerships with the Massachusetts Institute of Technology to advance research, knowledge exchange, and academic mentoring in Angola’s energy sector.
Source: angolanminingoilandgas.com
