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Hydro To Invest In Angola

According to the Norway Post, an estimate of NOK 1 billion is to be invested by Norsk Hydro for the exploration for oil off the coast of the West African nation of Angola. In collaboration with the Angolan State Oil Company (SONANGOL), Norsk Hydro will become part owner of a large exploration site. Hydro will provide their knowledge of Norwegian oil exploration and will appoint all necessary technical assistance to the assignment. Hydro's development as an international oil company could venture from this project.