Sonangol, Gemcorp Sign Cabinda Partnership Deal
London-based investment firm Gemcorp has signed a partnership deal with Angola’s national oil company, Sonangol, for the construction of the Cabinda refinery, which will be located on the Malembo plain.
The construction of the refinery – which will have the capacity to process 60,000 barrels of oil per day – will be divided into three phases, with the first phase due for completion in 2021.
Phase one and two will produce 30,000 bpd respectively, while phase three will aim to improve production specifications on gasoline, diesel, Jet A1, PLG, kerosene and fuel oil.
Sonangol initially awarded the contract to the United Shine consortium in February 2019, but ultimately terminated the agreement owing to non-compliance with the agreed actions.
Returning for its second year, the Angola Oil & Gas Conference & Exhibition will be hosted in June 16-17, 2020 in Luanda, and will focus on an international investment drive aimed at bringing new deals and signing new entrants into Angola’s oil and gas sector.