Nov. 17 (Bloomberg) -- The cost of Angola's proposed liquefied natural gas project will probably double to $8 billion because of unforeseen problems relating to dredging and preparation of the site, Jornal de Angola reported.

The plant, to be built on a 200-hectare (494-acre) site, will produce 5.2 million cubic meters of natural gas a year from 2012, the Luanda-based newspaper said, citing project director Paul Owen.

Chevron Corp. owns 36.4 percent of the project, Angola's state-owned oil company, Sonangol, 22.8 percent, and Exxon Mobil Corp., BP Plc and Total SA 13.6 percent each.

To contact the reporter on this story: Candido Mendes in Luanda via the Johannesburg bureau at abolleurs@bloomberg.net.

Last Updated: November 17, 2008 06:50 EST