According to international press, the Government of Angola considers to restructure the oil sector to increase efficiency and profitability. Activities of the State-owned oil company, Sonangol, which has the responsibility to represent the State in the oil sector and to produce oil as an operator, are to be separated and split into three different organisations: Sonangol will keep focusing on exploration and production, while two new entities will be created, namely the Agency and the Superior Council, to deal with regulation and administration. The Agency will be responsible for contract negotiations with international oil and gas majors, while the Superior Council, which will report directly to the President of Angola, will manage the State's shareholding in Sonangol.
Angola is Africa's second largest oil exporter, behind Nigeria, with an output of around 98 Gt in 2015 (Source: Enerdata, Global Energy and CO2 Data).
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