ANGOLA ALGERIA CAMEROON CHAD. CONGO EGYPT.. EQUATORIAL GUINEA GABON LIBYA. NIGERIA SOUTH AFRICA SUDAN TUNISIA OTHERS
ALROSA Acquires a License for Oil and Gas Exploration in Angola
12-20-2007
Russia’s diamond-mining company ALROSA in a consortium with Angola’s Dark Oil has got an oil and natural gas prospecting license.
The license is for blocks in the Lower Congo and Upper Kwanza districts, between the Etosha, Okavango and Kassanje basins, as well as on the country’s shelf, ALROSA said in a press release. Thus ALROSA has become the first Russian company to receive a license to conduct a large-scale exploration work to search for oil and gas deposits in Angola, the company said.
Angola that is currently one of the largest suppliers of oil to the world market produces about 100 million tonnes of oil annually.
ALROSA has decided to create a 100-percent associated enterprise in the form of a holding management company for the centralization of control of the company’s assets in Africa. The new enterprise will be registered in St. Petersburg with affiliates in African countries.
ALROSA is the world’s major diamond-mining company accounting for 25 percent of the world diamond production. In 2006 ALROSA sold 2.86 billion US dollars worth of its main products, including diamonds to a sum of 141.1 million dollars.