Angola is sub-Saharan Africa's second largest oil producer behind Nigeria. Angola's oil and oil derivatives industry accounts for 91.92 percent of total exports. It is a key player in Africa's oil industry as both a major producer and exporter.
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Two Blocks to Last 25 yrs in Angola
Concerning the exploration time, according to the source, these blocks can last for eight to 25 years
Oil reserves in the remaining areas of the Blocks 17 and 18 in Angola have been estimated at one billion barrels and 700 million barrels respectively.
Speaking at the end of the opening session of the proposals that the competing companies for blocks 17 and 18 have presented to State-owned oil firms (Sonangol), Saturnino Carlos, president of the Jury of tenders for oil concessions stressed that the block18, if it is to be divided, that is, in the area called deeper and deep cretaceous, where the risks are bigger, the reserves can range from one to three billion barrels.
Concerning the exploration time, according to the source, these blocks can last for eight to 25 years, depending on the existing reserves in low or deep waters.
Angola is sub-Saharan Africa's second largest oil producer behind Nigeria. Angola's oil and oil derivatives industry accounts for 91.92 percent of total exports. It is a key player in Africa's oil industry as both a major producer and exporter.
Angola is sub-Saharan Africa's second largest oil producer behind Nigeria. Angola's oil and oil derivatives industry accounts for 91.92 percent of total exports. It is a key player in Africa's oil industry as both a major producer and exporter.
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