ANGOLA Lourenco takes direct swipe at Isabel dos Santos’ gas ambitions

摘要

The daughter of the former head of state Jose Eduardo dos Santos, billionaire Isabel dos Santos, has been given yet another setback after being ousted from the top seat of the state-owned Sonangol. This time it is her hold on the gas block Gas Consortium that was annulled by the current President Joao Lourenco. According to our sources, Dos Santos controls Exem Exploration and Production, which holds 10% of the asset. The consortium, set up in 2007, comprises Italian major ENI, Portugal’s Galp, Spanish major Repsol and Sonangol P&P, the exploration and production branch of Angola’s state-owned group. The cancellation of the block is a direct result of Dos Santos’ tug of war with these majors. Sonangol and ENI are convinced the field holds no commercially viable reserves while Exem believes otherwise.