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Angola Is in Talks With Majors to Boost Oil Output by 2020

  • Exxon, Equinor in discussions for entering new blocks
  • Possible new bidding round may be launched before 2019
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We Need Additional Oil Supply Out of OPEC, Says Tortoise's Sallee

Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino.

New energy legislation and more favorable investment terms have already spurred interest from international operators, including Chevron Corp. and Total SA, he said in an interview in Vienna.