The contract is aligned with Sonangol’s plans to renew its maritime fleet and strengthen its shipping and trading unit, which represents one of its core business units.
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Angola’s national oil company Sonangol announced the start of construction on its second Suezmax tanker, as part of a two-part contract previously awarded to Hyundai Samho Heavy Industries in Korea.
Construction of the first tanker is currently 45% complete, with both tankers expected to be delivered by September 2023. The Suezmax tankers will be capable of transporting one million barrels of oil, with a gross tonnage of approximately 158,000 metric tons.
The contract is aligned with Sonangol’s plans to renew its maritime fleet and strengthen its shipping and trading unit, which represents one of its core business units.
First oil and gas production will generate more than foreign revenues for emerging producers like Senegal, Mauritania, Uganda and Namibia – instead cementing diversification and regional integration as key pillars of modern-day export economies.
The board of the Fund for Export Development in Africa has received the necessary internal approvals for the acquisition of a minority stake in Geregu Power.
