Saudi Arabia expresses interest in Angola’s oil and mines

Luanda, Angola

Representatives of the Ministry of Energy and Industry and companies from Saudi Arabia have visited Angola to gather information on business opportunities in Angola in the areas of oil, gas, petrochemicals and solid mineral resources.

In addition to the head of the Department of Cooperation of the Saudi Ministry of Energy and Industry, Khalid Alotaibi, Saudi Arabia, Saudi Aramco, the largest oil company in the world, and the Ma’aden mining company, exploitation of phosphates, gold and aluminum.

According to a press release from the Ministry of Mineral Resources and Petroleum (Mirempet), Saudi officials and businesspeople met with Secretary of State for Geology and Mines, Jânio Correia Victor, before starting contacts with Angolan experts linked to Mirempet, Sonangol , Endiama, Ferrangol and Sodiam.

During the meeting, Jânio Correia Victor informed them about the business opportunities provided by the Strategic Oil and Gas Bidding Plan in Angola 2019-2025.

After the presentation, the head of the Cooperation Department of the Saudi Ministry of Energy and Industry, Khalid Alotaibi, was peremptory in stating that “Saudi Aramco sees in the Plan an opportunity to participate in the tenders and seek to act in Angola.”

In turn, mining company Ma’aden expressed interest in opportunities in Angola, taking into account the materialization of the company’s growth plan.

Saudi Aramco is the largest oil company in the world in terms of crude oil and production reserves, with an estimated value of up to $ 2 trillion in the Financial Times, making it the most valuable company in the world. Based in Dhahran, Saudi Aramco also operates the world’s largest hydrocarbon network, the Master Gas System. Formally, it is known as Aramco, acronym in English of Companhia Petrolífera Américo-Saudita.

As of Wednesday, delegations from Angola and Saudi Arabia will continue to exchange knowledge about business opportunities, aiming at the visit of the Saudi minister to Angola and a possible move of Angolan minister Diamantino Azevedo to that country.