Thu, 01 Mar 2018 12:04 - Updated Thu, 01 Mar 2018 12:04
Sonangol to restart oil production in Iraqi
Luanda - The Angolan State-owned Oil Company (Sonangol) intends to reactivate its two oil exploitation fields in Iraqi, suspended since due to frequent armed conflicts in the Middle East.
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According to the company’s CEO, Carlos Saturnino, the company is currently working towards the reactivation of the two fields in that country, with view to make profitable the investment made by the company in that region.
Questioned by ANGOP during a Press conference on the state of the company, Carlos Saturnino, underlined that the referred fields still have a reserve of 1billion of oil barrels that may secure a long-term recovery of the investment made.
As part of the company's internationalization strategy, Sonangol signed award agreements in 2010 to explore the oil fields of Najma and Qayara in Iraq.
Both fields were producing 10,000 barrels per day
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