Entity

As per SONANGOL E.P., Consolidated Financial Statements, 31 December 2022:

Sonangol Refinação & Petroquímica, S.A.: 
For this business, a merger by incorporation process is in progress, in which Sonaref, S.A. will be merged with Sonangol Refinaria de Luanda, where the former will include all the assets and liabilities of the latter in its corporate structure.

This means:

1. SONAREF (Sonangol Refinação & Petroquímica, S.A.) - the absorbing entity
2. Sonangol Refinaria de Luanda - the entity being absorbed
3. Result: All refining assets consolidated under SONAREF
    

SONANGOL REFINING & PETROCHEMICAL COMPANY (SONAREF) 

August 26, 2024

• Sonangol Refining & Petrochemical Company (Sonaref) is a major value asset, integral to Angola's energy matrix. As the only refining company in Angola, Sonaref currently supplies 30% of the market demand with a refining capacity of 65,000 bpd.
• To further enhance our value, Sonaref is spearheading three major refining projects: the Cabinda Oil Refinery, the Soyo Refinery, and the Lobito Refinery, which will have the highest processing capacity. These projects aim to increase our total refining capacity to 425,000 bpd.
• The Cabinda Refinery will have a capacity of 60,000 bpd, the Soyo Refinery 100,000 bpd, and the Lobito Refinery 200,000 bpd.
• Currently, the first phase of the Cabinda Refinery is nearing completion, and the Luanda Refinery is processing 65,000 bpd. Our team consists of approximately 340 employees, and we generate an annual turnover of about US$1.5 billion from the Luanda Refinery.