Angola's giant privatisation programme will include not only Sonangol itself but also stakes in the two joint-ventures with China International Fund.A presidential decree outlining the terms of the programme over the next three years includes China Sonangol International Limited(CSIL)and China Sonangol International Holding(CSIH)-both to be sold via public tenders next year.China Sonangol,in its various guises,is part of a hazy corporate web involving Hong Kong businessman Sam Pa,Sinopec and Sonangol officials.The group once paid vast fortunes for stakes in offshore blocks.Exactly which rights it has left appear uncertain with several having been stripped or passed on in recent times.China Sonangol often acted as a middleman before interests were sold on to Sonangol Sinopec Internation-al-jointly owned by Sinopec and China Sonangol.At one point China Sonangol held shares in Cobalt's Block 20,BP's ConocoPhillips’Block 36/11 and Statoil's Block 38/11 but has gradually seen its interests reduced with its only certain assets now being a 10% stake in BP's Block 19/11 and 25% in Sonangol P&P's Block 3/05A.
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