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30 Per Cent Share Of Oil Block Secured By Norsk Hydro

According to Worldoil.com and Norsk Hydro, the Angolan state oil company Sonangol has awarded 30 per cent share of oil production in Block 34 off Angola to Norsk Hydro. Hydro will provide the technical assistance to the Sonangol project with contributions to designing and implementing the operational activities. Operatorship has been given to Sonangol. Preparations have been made for the drilling of the first well which is expected to be completed in the first half of 2002. "Angola is one of the most important areas for Hydro's international oil and gas activities. The award of 30 per cent share in Block 34 and the role as technical assistant represents a considerable step forward in our ambition to continue the development of Angola as one of our main core areas", says Torstein Dale Sjøtveit, head of Hydro's operations in Angola.