Angola: Sonangol partners Esso to explore Kwanza basin

15 April 2009

Luanda, Angola, 15 April – Angolan state oil company Sonangol is partnering Esso, a subsidiary of ExxonMobil Corp, to analyse the possibility of oil exploration in the River Kwanza basin, the head of the company’s Exploration Department said Tuesday in Luanda.

After noting that the surveys carried out had indicated the existence of 6 million barrels of oil in the basin, Severino Cardoso said that Sonangola could also explore oil in the deep waters of the same basin and was considering investing on land in the Cassanje and Ocavango river basins.

In the past Sonangol extracted 80,000 barrels of oil per day from the Kwanza river basin, but the civil war that followed the country’s independence from Portugal forced the company to give up the operation.

Angola, which is currently the second-largest oil producer in sub-Saharan Africa after Nigeria, extracts most of its 1.6 million barrel per day production from the sea. (macauhub)