Africa Monitor Intelligence
Angola: Oil Production Stability Gains Consistency
While Total and Chevron secured incentives for new drilling in producing blocks, the areas granted to Shell (BG, formerly British Gas, the vehicle chosen for new investments in Angola) are new. This multinational has committed USD 1 billion to seismic studies and drilling in the country, to which it has returned with a new deep and ultra-deep water exploration agreement, after a 20-year absence.