Next to 15/06?...........Angola: Chevron to invest US$3 billion in oil exploration in Angola [ 2008-06-05 ]
Arusha, Tanzania, 5 June – US oil company Chevron plans to invest US$3 billion in developing the Tombua Landana project, in Bloc 14 in Angola’s offshore area, the oil company’s vice president said in Arusha Tuesday.
Speaking to journalists, Peter Robertson said that the Angolan project was part of global investment of US$20 billion over the next five years, in order to meet demand for oil and gas by boosting production in Africa, particularly Angola and Nigeria.
Robertson noted that Tombua Landana was expected to produce some 125,000 barrels of oil per day in an initial phase.
In Nigeria US$5 billion are to be invested in a diesel refinery in Escravos, in the Niger delta, by 2012.
Angola’s oil production was the largest in Africa in April, exceeding that of Nigeria, which was affected by attacks on oil facilities, according to figures from the Organization of Oil Producing Countries (OPEC).
OPEC said that in April Angola produced 1.873 million barrels of oil, or 55,000 more than Nigeria. (macauhub)
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