Angola Launches $60 Million Oil Platform Construction Project
Angola’s Lifua-A project – which is focused on building oil platforms in Angola’s northern
Cabinda Province – was officially launched by Minister of Petroleum and Natural
Resources, Diamantino Azevedo.
The project will be divided into three phases – LIFUA A, B and C– with the objective of
developing gas and oil exploration platforms in the Takula field, located in Block 0, which is
currently being explored by Chevron, Sonangol and Eni. Block 0 consists of six wells, four of
which produce oil and gas. Phase one of the project includes the installation of the first
platform in the Takula field, which is due for completion in the first quarter of 2021.
“This enterprise serves as a clear example of the measures that the President of the
Republic of Angola, H.E. João Lourenço, has been taking in the oil sector, and this
infrastructure demonstrates the sense of responsibility towards the country’s provinces due
to the youth employment program,” Minister Azevedo stated during the launch, adding that
400 jobs are expected to be created from the $60 million project.
Returning for its second year, the Angola Oil & Gas Conference &; Exhibition will be hosted in June 16-17, 2020 in Luanda, and will focus on an international investment drive aimed at bringing new deals and signing new entrants into Angola’s oil and gas sector.