and gas industry founded 1976 1976 headquarters luanda angola key people isabel dos santos chairwoman and ceo owner government of angola website www.sonangol.co.ao sonangol head office in luanda group sonangol portuguese grupo sonangol is a parastatal that oversees petroleum and natural gas production in angola . the group consists of sonangol e.p. portuguese sociedade nacional de combust veis de angola e.p. and its many subsidiaries . the subsidiaries generally have sonangol e.p. as a primary client along with other corporate commercial and individual clients . angola is estimated to have over 5 billion barrels 790 000 000 m3 of offshore and coastal petroleum reserves and new discoveries are outpacing consumption by a 5 to 1 ratio . contents 1 history 2 missing oil billions 3 organization 3.1 subsidiaries 4 technologies 5 references 6 external links history edit on the eve of portuguese angola s independence from portugal following the carnation revolution and the election of a democratic government in portugal in 1976 the company angol angol sociedade de lubrificantes e combust veis sarl founded in 1953 as a subsidiary of portuguese company sacor was nationalized and split in two forming sonangol u.e.e. and direc o nacional de petr leos . directive 52 76 instituted sonangol as a state owned company with a mandate to manage the country s substantial petroleum and natural gas . using the extant remains of texaco total shell and mobil s oil works sonangol obtained the assistance of algerian sonatrach and of italian eni . oil giant marathon oil announced in september 2013 that it had agreed a deal in principle to sell a 10 % stake in its offshore angolan oilfield to sonangol . 1 in december 2013 sonangol acquired the exploration rights to five onshore oil blocks in angola which could be tendered for development at a later date . 2 in june 2016 the angolan president jos eduardo dos santos removed the entire board of sonangol and installed isabel dos santos as chairwoman of the company to ensure transparency and apply global corporate governance standards . 3 missing oil billions edit in december 2011 human rights watch said that the government of angola should explain the whereabouts of us 32 billion missing from government funds linked to sonangol . a december 2011 report by the international monetary fund said that the government funds were spent or transferred from 2007 through 2010 without being properly documented in the budget . 4 the imf was assured that most of 32 billion was being used for legitimate government reasons and considered to be found . 5 organization edit today as of 2006 sonangol has over 30 subsidiaries and maintains overseas facilities in the following cities brazzaville congo hong kong houston us sonangol usa co. sonusa has its head office in the energy corridor area in houston . 6 7 london uk sonangol limited has its head office in the merevale house in kensington rbkc london . 8 singapore . as the company grew it had a need to obtain services such as telecommunications services retail network support trucking shipping data management scientific engineering seismic and others . the company created subsidiaries to meet these needs . sonangol and its many subsidiaries have continued to expand into other lines of business . among the more important subsidiaries are sonair and mstelcom . sonangol is one of the major shareholders of the portuguese energy company galp energia through its indirect participation in the capital of amorim energia which holds one third of galp s shares and on which board sits the son in law of the angolan president . 9 sonangol is an important sponsor of the arts sports and humanities in angola and in africa . on december 12 reuters reported that sonangol won the rights to develop the iraq s najmah oilfield in a bid held that day . the company s plateau production target for the field in the volatile province of nineveh is 110 000 barrels per day 17 000 m3 d bpd and the remuneration fee is 6 per barrel . sonangol had proposed a per barrel fee of 8.50 but then accepted the oil ministry s lower amount . subsidiaries edit essa angola training kwanda logistical support logistical support kwanda field mstelcom telecommunications sodimo real estate management sonair oil and gas industry air transport service sonangol p & p oil exploration sonagas natural gas exploration sonadiets corporate infrastructure sonamer oil recovery ; deep drilling sonamet petroleum platform manufacturing ; metal structure fabrication sonangol distribuidora downstream petroleum products including gasoline petrol sonangol shipping maritime crude oil transport sonangol usa located in houston texas sonaship maritime petroleum product transport sonasurf offshore oil work logistics sonatide offshore oil work logistics sonawest seismic data service sonils logistical support logistical support http www.sonils.co.ao sonangol starfish brasil p & p oil exploration technologies edit sonangol usa sonangol london and sonangol asia are the main trading and operations offices for the crude and product cargoes sold on behalf of sonangol e.p. sonangol starfish which is located in brasil rio de janeiro since 22 of march 2010 references edit marathon oil to sell stake in angolan field for 590 million international reuters 2013 sonangol secures oil exploration rights in five onshore blocks in angola africa oil review africa 2013 all in the family angola president picks eldest daughter to head state oil firm western firms scramble for contracts . mg africa . 2016 06 03 . retrieved 2016 06 03 . human rights watch angola explain missing government funds retrieved 21 december 2011 wroughton lesley 2012 01 25 . imf finds most of angola s missing 32 bln . reuters . retrieved 13 august 2012 . 1177 enclave pkwy . energy corridor . retrieved on 6 august 2011 . contact information . sonangol usa . retrieved on 6 august 2011 . 1177 enclave parkway 2nd floor suite 200 houston tx 77077 contact . sonangol limited . retrieved on 6 august 2011 . sonangol limited merevale house brompton place london sw3 1qe united kingdom . daddy s girl how an african princess banked 3 billion in a country living on 2 a day forbes . 8 14 2013 . retrieved on 19 09 2013 . external links edit angola portal companies portal energy portal sonangol sonangol usa sonangol london in english and portuguese sonangol polska retrieved from https en.wikipedia.org w index.php title sonangol group & oldid 743639638 categories companies of angolaoil and gas companies of angolanational oil and gas companiesgovernment of angolaluandacompanies established in 1976angolan brandshidden categories articles containing portuguese language text navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutschespa ol fran aisnorsk bokm lportugu ssuomisvenska edit links this page was last modified on 10 october 2016 at 14 25 . text is available under the creative commons attribution sharealike license ; 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