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Angolan-Russian consortium licensed for oil-gas prospecting

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%. (