By an OGJ Online Correspondent
PARIS, Nov. 12 -- Implementing a 2-month-old decision, the Angolan government Monday signed a protocol aimed at developing gas reserves estimated at 4 tcf.
State company Sonangol signed a deal with TotalFinaElf SA for a $3 billion joint gas venture. So far, Angola's associated gas production has been flared or reinjected.
The venture will be broadened to include other companies operating in Angola. The first stage of the project will be to reevaluate reserves and choose development options.
Energy Minister Jose Maris Botelho de Vasconcelos indicated Angola wanted TotalFinaElf's expertise in liquefied natural gas projects. Some of the gas will be used to manufacture fertilizers for Angolan use and some for power generation.
The minister said Angola wants to expedite deepwater developments. In December, TotalFinaElf is due to bring the $2.7 billion Girassol deepwater project on stream. When it peaks at 200,000 b/d, Angola's oil production will top 1 million b/d.
The protocol also covers further TotalFinaElf developments on Block 17, including the Jasmin satellite field. The deal includes a social program, research and development cooperation, and increased employment of Angolans in the oil industry.
