Mission, Goals & StrategyGroup SonangolGSPhilosophy -- Despite being a state owned company, Group Sonangol bases the financial and administrative management of its companies on the management standards of private companies. To achieve the established levels of efficiency and productivity, the company emphasizes the application of modern management methods to make the Group more efficient and transparent to the outside world. Some of the policies we use: * accounts reporting of all group companies in conformity to international standards of financial rigor. * achievement of each group's companies goals with transparency and responsibility. * valorisation of the human capital and creating of a professional environment conducive to self-motivation. * responsibility towards the environment and for its preservation. Foreseeing the entry of domestic private companies in the oil sector, Sonangol expanded its business and level of expertise to prepare for free competition.AngolaPromote sustainability and growth of the national oil industry, to ensure greater return for the Angolan government. Guarantee the participation of national businesses and individuals in the industry activities and benefit the Society with the results generated.Client OrientationOrientation to the clientExcellenceExcellence in performance Team WorkQualityHealthSafetyEnvironmentEthical ConductCommunicationEffective communicationOil CompanyBe an integrated and competitive oil company, with international projection and high level of performance based on the best practices of Corporate Governance.1HydrocarbonsProspect, research, develop, produce, transport, commercialize and transform liquid and gaseous hydrocarbons and their derivatives1.1Sonangol’s primary purpose is prospecting, research, development, production, transportation, commercialization and transformation of liquid and gaseous hydrocarbons and their derivatives, including petrochemicals.Other ActivitiesEngage complementary or ancillary activities.1.2By decision of its Board of Directors, and without prejudice to what is specifically provided by law, Sonangol may also engage directly or indirectly in activities complementary or ancillary to its corporate purpose or any other industrial or commercial purposes.New CompaniesConstitute new companies and acquire all or part of the capital of established companies.1.3In pursuing its goals, Sonangol may constitute new companies and acquire all or part of the capital of an established company and whenever it detains a totality or a majority of the voting capital of said companies, it will establish the coordination, economic and financial direction and the business development of the said company.Principles1.3.1When establishing companies and joint ventures, Sonangol shall observe the principles of specialization and vertical integration, in order that the companies thereby constituted maintain their legal identities.CommitmentsBe always up to our commitments to the state, society, partners and our employees and ensure generation of dividends for our shareholders.2Cooperation & AssociationEstablish associations beneficial to the fulfillment of our corporate goals.2.1Sonangol may, in terms of applicable legislation, establish in conjunction with national and/or foreign entities the type of association and cooperation that is most beneficial to the fulfillment of its corporate goals.Priorities3Strategy 2010-2013 -- Currently Sonangol's key objectives are: to increase oil production, boosting international sales, preserve the profitability and maximize its profits to support development in Angola. To meet these objectives the company has been implementing since 2003 a comprehensive investment program aimed at boosting in the long run the sector of exploration and production and in the near future the activities of refining and petrochemical production.Exploration & ProductionBoost exploration and production (E&P).3.1The investment in upstream is intended at increasing production to meet domestic demand. In the past decade in Angola we significantly increased crude production from 1 million bpd (barrel per day) to 2 million bpd em, goal reached in 2008. Though having worked in oil exploration over the past 10 years, Group Sonangol stills considers itself a novice oil operator, nevertheless our partnerships with leading oil companies have provided the exchange of experience and expertise required for us to take on more ambitious projects. Thus from operator in shallow waters (on Block 3), since 2003 Sonangol is also an operator in ultra-deep waters (on Block 34); a move done with the purpose of increasing total production from 12,000 bpd to 200,000 bpd by 2009. The total sum of bpd will mainly be from oil concessions in Angola, while the remainder will come from international E&P ventures.DemandMeet domestic demand.3.2Given the high national demand for LPG and petrochemical products and to reduce the import of refined products, Sonangol in partnership with companies operating in Angola, is building a new refinery (Sonaref) and a production plant for liquefied natural gas (LNG). A Sonaref (Sonangol Refinaria) is a high conversion refinery that is being built in Lobito, Benguela. Sonaref should be operational in 2015 and when in operation will have capacity to process 200,000 bpd. Project 'Angola LNG' is in charge of the construction of the LNG plant, and ALNG is a collaboration project between Sonangol (22.8%), Chevron (36.4%), bp, ENI and Total (these three with 13.6% each). With this facility we will produce petrochemicals in the country and end the flaring of gas resulting from oil exploration.2013-10-07http://www.sonangol.co.ao/wps/portal/!ut/p/c1/04_SB8K8xLLM9MSSzPy8xBz9CP0os3hDl5AQUzN_QwMDf38DA09DxyBfbz9_YwsTc6B8JLJ8gIUbUN4_MMDHx9XQwNyUIt1mBHSHg1yL33a88mYQeQMcwNGAgH5z_PJhZvp-Hvm5qfoFuaERBpmeWSaOiooArAFh9A!!/dl2/d1/L2dJQSEvUUt3QS9ZQnB3LzZfMURUVDU2TzEwME9PMDBJMUFSTUtOTzM4NDI!/OwenAmburOwen.Ambur@verizon.net