China National Offshore Oil Corporation (CNOOC) is sending a team of senior executives to Angola to explore fresh oil exploration prospects, according to Reuters.
This move aligns with Angola’s efforts to bolster its energy partnership with China, a major creditor and a key market for its oil exports.
The desire to enhance energy ties was emphasized during President Joao Lourenco’s recent visit to Beijing, as conveyed by Angolan authorities.
Announcing the forthcoming delegation from CNOOC, led by Chairman Liu Yongjie, the Angolan oil and gas ministry stated on Facebook that discussions would center on Block 24 and other potential oil exploration opportunities.
The meeting between Angola’s oil minister and the CNOOC delegation follows Angola’s decision to exit OPEC in December 2023, marking a significant development in the nation’s oil strategy.
