A memorandum of understanding on oil and gas signed by Angola and Zambia could result in the construction of an oil pipeline between the two countries, costing an estimated US$5 billion, Angolan news agency Angop reported.
The document was signed by Angola’s Minister of Mineral and Oil Resources Diamantino Azevedo and Zambia’s Energy Minister Matthew Nkuwa, who stressed the urgency of building the AZOP project (Angola Zambia Oil Pipeline) linking the Lobito Refinery with the city of Lusaka.
The pipeline, the Zambian minister said, as well as facilitating the supply of oil products from the Lobito Refinery will also pave the way for further economic integration of the Southern African Development Community (SADC) countries.
The Angolan minister recalled the ongoing construction of the Lobito and Cabinda refineries and the recovery and modernisation of the Luanda refinery, which together will increase Angolan refining capacity to around 300,000 barrels per day.
Also on Monday the Angolan delegation met with the promoters of the AZOP project and were given details about the challenges and advantages of it, if it becomes a reality. (macauhub)