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China National Offshore Oil Corporation (CNOOC) is dispatching a team of top executives to Angola to explore new oil exploration opportunities, reported Reuters.
This development comes as Angola, one of Africa’s leading oil producers, seeks to strengthen its energy ties with China, a principal creditor and a crucial market for its oil exports.
Angolan authorities conveyed the nation’s desire to strengthen energy ties with China during President Joao Lourenco’s recent visit to Beijing.
In a post on Facebook, the Angolan oil and gas ministry said: “In the coming days a delegation from CNOOC, led by Liu Yongjie, Chairman of CNOOC International, is set to travel to Angola to start discussions around block 24 and other oil exploration opportunities.”
The visit, which saw a meeting between Angola’s oil minister and a CNOOC delegation, comes in the wake of Angola’s departure from OPEC in December 2023.
