Sonangol oil is a parastatal (a partially state-owned corporation or government agency) that oversees petroleum and natural gas production in Angola. The group has many subsidiaries. The subsidiaries generally have Sonangol as a primary client, along with other corporate, commercial and individual clients. Angola is estimated to have over 5 billion barrels of offshore and coastal petroleum reserves, and new discoveries are outpacing consumption by a 5 to 1 ratio.
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