Source: Macauhub

Angolan state oil company Sonangol is due by the end of this month to finish analysing the technical proposals received for the construction of refineries in Angola, the company’s chairman said on Monday in Benguela.

Carlos Saturnino, who was accompanying President João Lourenço on a visit to the facilities to support the construction of the future Lobito refinery, at a standstill since 2016 as a result of the economic crisis, said the group that is working on this by the end of this month should conclude the analysis of the 23 proposals received and then submit a report to the government.

The same official also said that, according to the last update on 10 February, there are a total of 23 proposals split between the Lobito and Cabinda projects, in addition to a series of intentions related to the provision of services in terms of engineering and construction.

Sonangol said in a statement issued on 1 February that it had received 63 technical, economic and financial proposals from both domestic and foreign companies to build refineries in the country.

Saturnino argued it was necessary to make a general review of the project for the Lobito refinery so that the initial value of around US$12 billion could be halved, according to the Angop news agency.

The future refinery, construction of which began in January 2013, a month after the first stone was laid, is located 10 kilometers from the city of Lobito, in an area of 3,805 hectares and is expected to process around 200,000 barrels of oil per day.

In December 2017, the President of the Republic created a working group made up of members of the Ministry of Mineral Resources and Oil and Sonangol to analyse and give due consideration to proposals for the construction of refineries in Angola.

Angola is currently the second largest oil producer in Africa, after Nigeria, and produces more than 1.6 million barrels of oil per day.