July 16, 2004

Chevron/Texaco invests about US$ 9 billion in oil / Cuba strengthens co-operation

US oil company Chevron/Texaco has invested since 2003 about US$ 9 billion in the implementation of three petroleum exploration projects and routine burning of gas on the Angolan coast. The projects are "Sanha Condensados", "Tômbwa-Lândana" and "Belize-Lobito-Tomboco", located in the provinces of Cabinda, Zaire, (north), Namibe (southweat) and Benguela (centre), which are to be concluded in the year 2005. The deputy chairman of the company, Peter Robertsom, said that "Sanha Condensados" was of an environmental character and permitted the elimination of burning of gas at sea. Until its completion in 2005, he stated, it would remove around 2.2 million tons of carbon dioxide per year. That project would also produce 100.000 barrels of oil per day. The development of the Belize-Lobito-Tomboco fields, located in Cabinda, Benguela and Zaire, would produce oil in a first phase, through pipelines, starting from 2005. With three drilling centres, connected to a platform, the project expects to produce 200.000 barrels of oil a day, as from July 2008, while Tômbwa-Lândana project, in Namibe and Cabinda, will explore 100.000 tons of crude oil until 2006.

In a different context, the economic and social adviser of the Cuban Embassy to Angola, Roamon Rodriguez, has affirmed that his country would reinforce the co-operation with Angola in various economic and social fields. The Latin-American diplomat manifested this intention during a ceremony organised by his country at the ongoing Luanda International Trade Fair (FILDA/2004). According to the Cuban adviser, the areas of Education, Food Industry, Tourism and Civil Construction, would be the priority ones. "Angola, as a sister country of Cuba, coming from a long war, should mobilise efforts so that the International Community can help its speedy social and economic stability," said the diplomat. The Republic of Cuba was represented at FILDA with 12 companies linked to the fields of Tourism, Hotel and Food Industry. (Angola Press Agency, Luanda)

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