Angola Aims to Reverse Oil Output Decline

Africa’s second-biggest oil exporter, Angola, has unveiled a 2020-2025 energy roadmap which foresees oil discoveries of up to 57 billion barrels of crude oil and 27 trillion cubic feet of gas, state news agency ANGOP reported.

The plans involve $679 million in foreign investment and $188 million by the Angolan state, the agency reported late on Wednesday, part of an effort to reverse years of declining oil output and boost revenue for an economic reform drive.

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