Sonangol

Angola's national oil company. The country's largest enterprise, anchor of the upstream value chain, and a strategic vehicle of state economic policy.

Sonangol is Angola’s national oil company, founded in 1976 by presidential decree. For four decades it has been the country’s largest enterprise — anchoring the upstream oil value chain, holding strategic concessions, operating downstream distribution, and historically serving as a sovereign instrument of economic policy.

Reform under PROPRIV

Since 2020, Sonangol has been the subject of one of the largest state-asset divestiture programs in African history. Non-core subsidiaries — banking, insurance, telecom, and real estate holdings — have been spun out under the PROPRIV privatization program. The company’s regulatory functions have been transferred to ANPG.

Strategic role today

Sonangol remains the operator of choice on multiple offshore blocks, holds strategic equity interests across Angola’s energy value chain, and is the partner counterparty for foreign IOCs operating in the country.