Brazil plans to reinforce its presence in Angola

Aug 09, 1999 02:00 AM

Brazilian Petrobras will endeavour to reinforce its participation in the Angolan market, the out-going Brazilian ambassador in Angola Alexandre Addor Neto said.
After meeting with Angolan President Jose Eduardo dos Santos, Neto said that Petrobras, ranking in the list of the world's 20 biggest petroleum companies, has more advanced technology in deep water operations.
Neto, who will leave Angola for Brazil on August 29 after a four-year term, announced that Brazilian Minister of Mines and Energy Rodolf Turim will start his visit to Angola on August 23, during which he will discuss with Angolan officials on the bilateral co-operation in developing petroleum.

Petrobras, a leading company in Brazil's oil industry, began its participation in the exploration and development of crude oil in Angola from 1980s. Since then, Brazil, which lacks petroleum resources and imports 60 % of its petroleum products, has kept increasing its investment in the Angolan oil developing market.
Angola, the second largest oil-producing country in Sub-Sahara Africa after Nigeria, enjoys a 750,000 bpd production, with the off-shore oil fields in north-west Cabinda and Zaire provinces as its main oil-producing areas.

Source: Xinhua via Newspage
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