africa Angola commodities oil

Angola: ANPG signs agreement with partners

A cooperation protocol providing for study and technical assessment of block 34 located in offshore low Congo basin in Angola, was signed Monday in Luanda.

The agreement allows the signatories to assess the geological, geophysical and petro physical data. The parties are also expected to jointly evaluate the technical information for further future exploration in the block. The Chevron’s General Manager in Angola, Derek Magness, highlighted the importance of the study.

According to him, the initiative boosts their long-term commitment to the sustainable development of the oil sector in Angola and represents their first interest in a block located in the Low Congo basin.

ANGP CEO, Paulino Jerónimo, described the deal as an evidence of the strong partnership between Angola and Chevron and the commitment to work together to better understand the country’s potential of oil exploration.

In turn, Sonangol CEO, Gaspar Martins, stressed the importance of working together toward diversifying and increasing oil output goal in Angola.”

Source: Angop

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