Brazil wants to explore more in Angola

Nov 25, 1996 01:00 AM

Brazil's Petrobras wants an increased share of Angola's oil wealth and has proposed to explore in deepwater fields on bloc 21. Petrobras, which began its operations in Angola in 1979, currently holds a 27.5 % share in production on offshore bloc two with partners Texaco, Sonangol and Total. The bloc, around the northern town of Soyo, produces 110,000 bpd of which Petrobras takes 30,000 bpd.Petrobras has been working for more than 20 years in Angola and wants to increase their presence. It has offered a proposal to participate in a new bloc (bloc 21) in deepwater fields. Two years ago it also made a proposal for a joint action project in natural gas. Brazil currently imported two million tonnes of natural gas a year, mainly from Saudi Arabia. Figures show that oil is Angola's main export to Brazil was worth $18.5 mm in 1995, rising to $92.1 mm this year.

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