8 November 2012

Angola: Government Plans to Intensify Oil Exploration Activity

Luanda — The Angolan Oil minister, José Maria Botelho de Vasconcelos, said Thursday that the governance programme of the Angolan Government for the 2012/16 provides for the intensification of the prospection and exploration in oil sector.

The Cabinet minister expressed the assurance while speaking at the Third International Conference on the Engineering of Oil Teaching in Angola, held in Viana district, Luanda.

The official underlined that 80 percent of the country's oil revenues, as the Africa's second oil producer after Nigeria, is allocated to the State Budget.

"In our Governing programme for the period 2012/2017, the executive proposes fundamentally to enhance the prospecting and exploration of oil", he said.

The meeting gathers international speakers of the US Oil firm Chevron, SPE of the African region, University of Ibadan of Nigeria, NTNU University of Norway, The University of Salford of UK and other institutions.

Angola was represented by technicians of the ministry of Higher Education, Science and Technology, Oil and Agostinho Neto, and Catholic universities and Angolan oil company (Sonangol).

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