Africa Monitor Intelligence
Angola: Environmental and Reputational Risks in Oil Prospecting in Okavango and Cuanza
The Cuanza Basin has already been the subject of geological studies, one of which was promoted by former Elf. Its results have always been considered discouraging. The oil potential of the Okavango basin, in turn, is only admitted in aeromagnetic surveys carried out by a specialized Russian company.
Taking into account the handicaps that both basins present, in addition to the present cycle of divestment in oil exploration worldwide, it is considered likely that the Government's plans will not raise interest from companies of established competence and credibility.
Furthermore, it is considered that the Government's plans, especially influenced by the Oil Minister, DIAMANTINO de AZEVEDO, are disadvantaged by the fact that they are contrary to the global affirmation of trends towards the replacement of hydrocarbons by energies considered as cleaner and environmentally friendly. READ MORE