3 July 2008
Madrid — Angola is open to foreign investments and to all oil companies interested to operate in the country.
This was said Wednesday in Madrid, Spain, by Angolan Oil minister, Desidério da Graça Veríssimo e Costa.
Addressing the ministerial session of the 19th World Petroleum Congress, Desiderio Costa said the number of oil companies interested to operate in Angola has increased over the last few years.
"Oil is explored in Angola for decades, but in the last ten years the number of oil companies interested to operate in the country has considerably increased," said the minister while speaking on the country's strategy and business opportunities in the sector.
According to the minister, Angola will continue to carry out huge deep and ultra-deep offshore and onshore exploration activity.
He said as well exploration activity by most of the foreign and local (Sonangol) oil companies has substantially increased.
"The Oil Ministry has designed policies and strategies to enable Sonangol and the foreign companies to lead production and development operations in the sector, in accordance with the needs of the country and the interests of the operators," said the minister.
Angola has currently a daily oil production of 1.9 million barrels and hopes to reach two million in a near future.
On the other hand, Sonangol's administrator, Syanga Abílio, told Angop the country will reach and hold its dail oil production to two billion barrels.
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