Angola’s Sonangol Opens Public Tender for Assets in Firms

Angola’s state oil company Sonangol has opened a public tender to sell its shares in some private firms as part of the government’s plan to privatize key state assets, including parts of Sonangol by 2022.

Sonangol is will sell 30% of its capital in oil and gas contractor Petromar, Sonadiets Ltd and Sonadiets Services SA, 51% in Sonatide Marine Ltd and Sonatide Marine Angola Ltd and 40% in Sonamet Industrial SA and Sonacergy Services and Construction Petroleum Ltd.

The state oil company will also sell a 33.3% stake in SBM Shipyard, a joint venture with Dutch-based SBM Offshore NV that provides floating production solutions to the offshore energy industry and 10% in Paenal, whose activities include building and engineering a fabrication yard.

Angola’s Minister of Mineral Resources and Petroleum, H.E. Diamantino Azevedo, said Sonangol would need to sell some of its shares in everything from hotels to aviation around the world before a 30% share sale in 2022.

Sonangol will decrease part of its ownership in 81 companies this year through a public tender, by auctioning six of those companies and three in an Initial Public Offering and, with 12 companies set to be privatized in 2021 and four in 2022.

For the submission of applications, in the case of Petromar, the deadline is May 30, 2020, with the presentation of proposals on the agenda for July 23. Applications for Sonatide Marine, Limited and Sonatide Marine Angola are scheduled for the 15th of May, and the presentation of proposals for the 15th of June 2020.

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Shuaib Van Der Schyff

Shuaib Van Der Schyff

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