BP invests over US$25 billion in oil exploration in Angola

25 July 2014

BP Angola, a subsidiary of the BP Group, has invested over US$25 billion since it started oil exploration in the country said the company’s marketing director, Amílcar da Costa.

Speaking to Angolan news agency Angop at the 31st Luanda International Fair (Filda), da Costa said BP was planning to invest US$15 billion over the next few years, both in new oil areas and in social projects.

Da Costa added that the company had a long-term commitment in Angola and that in order to have a sustainable business it should continue investing in education and other projects to support business, social inclusion and combatting poverty by offering training to people.

“BP has a strong focus n education at all levels and supports a number of programmes as it is an pillar for the development of any society,” he said.

In terms of higher education, da Costa noted support BP gave to Masters courses in oil and gas law and oil and gas management, in a partnership with the Legal and Economic Studies Centre of the Law Faculty of Agostinho Neto University.

BP has a stake in nine deep and ultra-deep water oil blocks in the Angolan sea and is a partner in the Angola LNG company, which processes and exports liquid natural gas. (macauhub/AO)