Angolan-Russian consortium licensed for oil-gas prospecting

Tourism

Angola’s Oil Ministry has granted an oil and gas prospecting license to a consortium involving the Russian diamond producer, Alrosa, the company said on Wednesday.

Along with the Angolan National Fuel Society (Sonangol) and Angolan oil firm, Dark Oil, Alrosa is to carry out geological surveys at deposits in the provinces of Lower Congo and Upper Kwanza between the Etosha, Okavango, and Kassanje basins, and also on the republic’s shelf, the company’s press office added. The parties to the project signed an agreement on July 9 in Luanda, the capital of Angola, one of the world’s leading oil suppliers.

Angola produces around 100 million metric tons of crude annually (2 mln bbl/d), according to Alrosa’s estimates. Alrosa, which accounts for 25% of global and 97% of Russian diamond output, is 37% owned by the Federal Property Fund, with legal entities owning 23%, and local authorities in the diamond-rich Yakutia region, 8%. (rian.ru)

 

ADVERTISEMENT

KSH Dismisses Reports of Eurostat 'Investigation' Figures

KSH Dismisses Reports of Eurostat 'Investigation'

Hungarian-American Business Chamber Established in Chicago Int’l Relations

Hungarian-American Business Chamber Established in Chicago

Number of Registered Jobseekers Down 3% in November HR

Number of Registered Jobseekers Down 3% in November

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair Drinks

Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.