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Chevron/Texaco Invests About Usd 9 Billion in Oil *LINK*

Angola Press Agency (Luanda)
July 16, 2004
Posted to the web July 16, 2004

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US oil company Chevron/Texaco has invested since 2003 about Usd 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.

Speaking to ANGOP, at the Luanda International Trade Fair (Filda/2004), the deputy chairman of the company, Peter Robertsom, said that "Sanha Condensados" is of an environmental character and permits the elimination of burning of gas at sea.

Until its completion in 2005, he stated, it will remove around 2.2 million tons of carbon dioxide per year.

This project will also produce 100.000 barrels of oil per day, in a condensed (a light hydrocarbon - a liquid similar to petrol). The development of the Belize-Lobito-Tomboco fields, located in Cabinda, Benguela and Zaire, will 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.

According to Peter Robertsom, as part of the project, two PP-platforms are being built with 500 metres of height each and with pillars of 200 metres deep in the sea and a weight of 900 tons.

Chevron/Texaco is attending the 21st edition of the Luanda International Trade Fair (Filda2004) that started on the 12 July and will close on Sunday.

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Messages In This Thread

Chevron/Texaco Invests About Usd 9 Billion in Oil *LINK*
Oil: Prize Or Curse? an International Quagmire *LINK*

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