Sonangol and ChevronTexaco sign accord for LNG

Apr 22, 2005 02:00 AM

The State-owned oil company Sonangol and ChevronTexaco with its partners signed an agreement that will resume the second phase of the contracts on the preliminary studies of civil engineering, related to the unit of productions of LNG, namely "Angola project LNG", located in Soyo region, Angola's northern Zaire province.
In this preliminary process are competing as partners: the oil companies BP, ExxonMobil and Total, Overseas Bechtel, Technip USA, groups of the Kellogg Brown and Root.

During this second phase of preliminary studies that will last for 15 months, Sonangol and ChevronTexaco, in the quality of co-leaders of the project, will select two of the competing companies, for the building of a factory for the processing of the product, whose production is estimated at 5 mm tpy.
According to the vice-chairman of the Sonangol administrative Council, Syamga Abilio, since the beginning of the process in 1997 already nearly $ 290 mm were spent, and until its end scheduled for 2009, it isexpected to be spent some $ 100 mm.

"Important steps have been given for the conclusion of the project, after the Government gave its authorization for execution and will be a catalyst agent for the growth of production of the oil and natural gas reserves and the development of the national industry", stressed the minister.
According to the director-general of ChevronTexaco for Southern Africa, Jim Blackwell the project besides liberating the commercial and strategical value of the resources of natural gas, will allow the transfer to the country of modern technology, creating in that way new job vacancies.

Source: Angola Press Agency
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