Angola: Exxonmobil wants new oil blocs in Angola

1 November 2007

Cape Town, South Africa, 1 Nov – Exxonmobil is interested in competing for new oil blocs up for tender in Angola despite the fact that OPEC may impose a production quota on the country, a company official said in Cape Town Wednesday.

Kevin Biddle, vice-president for Africa at Exxonmobil told journalists on the sidelines of an oil conference that his company was “definitely interested,” in taking part in the round of concessions for ten new blocs.

Biddle showed some concern about a quota being imposed by the Organization of the Petroleum Exporting Countries on Angola in 2008 affecting some companies operating in Angola.

Angola currently produces some 1.7 million barrels of oil per day and its is expected that OPEC will set a quota of 2 million barrels per day. (macauhub)