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Vol 38 No 4

Published 14th February 1997


Oil the wheels

Spectacular oil finds in the Congo basin off Angola's coastline are bringing in foreign investors and boosting the government's bargaining position. Industry sources reckon that within six years, Angolan oil production could almost double from its present 760,000 barrels a day. Much of the new production is expected from deepwater fields, where France's Elf-Aquitaine (Girrosal field) and Anglo-Dutch Shell (Bengo) have been drilling for three months. We hear both companies (which have joint ventures with the government's Sonangol) have already made substantial finds, justifying their initial optimism.

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