Luanda — The US Government has awarded the oil company CICA-Angola the Business Excellence Award for its role in promoting good business management and democratic principles, Angop learned.

The award was formally handed over on Thursday in Luanda by the US ambassador to Angola, Cristopher Mcmullen, during the 2012 edition of the Annual Gala of the US/Angola Chamber of Commerce.

According to a note from the US Embassy in Luanda, ESSO-Angola was awarded among 82 other American multinationals operating around the world.

The note says that the prestigious programme sponsored by the US Department of State acknowledges the relevant role of US companies in the promotion of good business management and democratic principles around the world.

The award recognises exemplar business practices, corporative social responsibility and innovation in the operation of companies overseas, reads a note from the US Embassy.

The note states as well that ESSO-Angola was selected this year as one of the eleven finalists, 82 nominations from around the world for this annual award offered by the US Department of State, in recognition of its history of economic development, international cooperation and mutual advantages.

According to the source, ESSO in Angola has been working to strengthen its commercial relations with local companies. In 2011, it invested Usd 440 million worth of services provided by local companies. The figure is an increment of Usd 260 million, as compared with the previous year, 2010.

ESSO-Angola is a subsidiary of Exxon Mobil Corporation and has been operating in the country since 1994, the note says.

It holds 40 percent of the Angolan Block 15, together with BP Exploration (Angola) Limited (26,67%), ENI Exploration B.V (20%) and Statoil Angola Block 15 A.S (13,33%).