Angola implements natural gas project

Sep 29, 2005 02:00 AM

A huge project called Angola LNG (Liquefied Natural Gas) is underway in Soyo, northern Zaire province, designed to burn natural gas from deep waters oil blocks and contribute to regional development.
The information was released in Johannesburg, South Africa, by the director of the Concession Economics of Angolan Oil firm, Sonangol, Antonio Orfao.

The source explained that although oil will still be for many years ahead a product essential to the world energetic resources, natural gas is becoming more and more relevant as a fuel in future. In fact, he said, one can say that the world has awakened for the era of natural gas. There are many projects being proposed for the development of natural gas in the five continents.
Antonio Orfao added that several projects have been proposed and implemented in countries like Nigeria, Algeria, Egypt and Libya, stating Angola will not be left aside. According to him, in a later stage, when associated gas proves to be insufficient, there will be a resort to non-associated gas fields existing in the Blocks 1 and 2.

The director said that the LNG project is seen in the sector as the only credible solution to boost development in the oil fields without gas burn, in compliance with the law and observation of environmental rules.
In addition, he stressed, the project will valorise what has been considered as a sub-product (environment polluter) without value in the oil activity (associated natural gas), that will become an additional source of revenue, job and regional development. He stated that the national manpower will win access to a new area of activity and get new technical and operational skills.

Explaining why the Angola LNG is to be implemented, the source said there are four reasons: first because of environmental reasons, second because it maximises the oil revenues, third because it creates opportunities for an industrial estate, and creates additional revenues for the State as the fourth point.
Angola LNG consists in the utilisation of associated gas produced in the deep waters blocks, both south of Zaire river (Blocks 15, 17 and 18) and north (Block 14), as well as the gas that comes from Cabinda concessions. The plant will have a capacity to produce five mm tons of Liquefied Natural Gas (LNG), with possibility to be expanded in future.

On 4 March this year, the Angolan Cabinet Council approved the 13/05 resolution supporting the LNG project. According to the source, the approval of the said resolution had an extremely positive impact on the part of project partners that on 10 the same month approved the transition into the second phase of the project.
The second phase includes significant investments amounting to over $ 300 mm, and involves detail engineering, well drilling and appraisal of gas in the Blocks 1 and 2, preparation of draft projects that will be approved by the government and the investment contract.

It also includes the implementation of the market strategy, through negotiations of gas stocktaking accords with buyers and creations of firms that will operate the gas plants and run the whole project.
Partners in Angola LNG project are Sonangol (22.8 %), Chevron (36.6 %), ExxonMobil (13.6 %) and Total (13.6 %).

Source: Angola Press Agency
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« September 2021 »
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30

Register to announce Your Event

View All Events