BP Stakes Claim In Angola’s Oil Sector With $15bn Investment




BP Stakes Claim In Angola’s Oil Sector With $15bn InvestmentMultinational oil and gas company, BP group says it plans to invest $15 billion in new Angola oil fields and also in the country’s education sector.

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BP has to date invested more than $25 billion in its Angola assets and intends to invest another $15 billion in exploration and development in Angola over the next 10 years.

“We have a long-term commitment in Angola and that in order to have a sustainable business we continue investing in education and other projects to support business, social inclusion and combatting poverty by offering training to people,” BP marketing director, Amílcar da Costa said. [eap_ad_2] BP currently supports various educational projects in Angola, including strategic partnerships with universities, schools and local NGOs. It also employs 1,000 staff based in Angola, of whom more than 70 percent are locals.

In the same southern African nation BP operates oil blocks 18 and 31 in the deep and ultra-deep waters of the Congo basin and blocks 19 and 24 in the Kwanza and Benguela basins; It also holds non-operating participation in blocks 15, 17, 20, 25 and 26, as well as the Angola LNG project in Soyo. BP is also the operator of the deep water blocks 19 and 24 and a participant in deep water blocks 20, 25 and 26, also in the Kwanza and Benguela basins.

BP Angola’s net average production is around 200,000 barrels of oil per day, from blocks 18 and 31 and in blocks 15 and 17. (Ventures Africa)[eap_ad_3]

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