Chevron sees Angola oil output up

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Thursday, March 30, 2006 - Web posted at 7:06:19 GMT

Chevron sees Angola oil output up

LUANDA - American oil giant Chevron expects a 40 per cent jump in its Angolan production over the next three years based on billions of dollars in investments to expand its operations, a company spokesman said on Tuesday.

Chevron is already the largest oil operator in Angola, sub-Saharan Africa's second largest oil exporter after Nigeria.

"We predict a 40 per cent rise in production up until the end of 2008," Chevron's spokesman Fernando Paiva told Reuters.

Chevron already accounts for 481 000 bpd out of a total of 1,3 million bpd produced in Angola - a figure the African country's government predicts will jump to two million bpd by 2008.

Chevron operates in 600 wells and 40 platforms.

-Nampa-Reuters

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