Angola is open to all foreign investors and oil companies to undertake exploring and developing oil resources in the country, Angolan official news agency ANGOP reported on Thursday.
Angolan Oil Minister Desiderio Costa was quoted as saying that the number of foreign oil companies interested in operating oil exploration and development in Angola has increased over the last decade.
"Oil is explored in Angola for decades, but the number of foreign oil companies interested in operating in the country has increased considerably in the last ten years," he said when elaborating Angola's strategy and business opportunities in the oil sector.
Addressing the 19th World Petroleum Congress held in Spanish capital Madrid on Wednesday, Desiderio Costa told participants that Angola will continue carrying out deepwater and ultra-deepwater offshore and onshore exploration activities.
He also said that exploration activities by most foreign and local (Sonangol) oil companies have substantially increased.
"The oil ministry has designed policies and strategies to enable Sonangol and the foreign companies to lead production and development operations in the sector in accordance with the needs of the country and the interests of the operators," he said.
Angola is currently able to produce 1.9 million barrels of crude oil per day (bpd) and hopes to reach two million bpd in the near future.
Source: Xinhua
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