Angola Looks To Replicate Brazil's Offshore Oil Boom
By Matthew Smith - Jan 19, 2021, 3:00 PM CST The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an OPEC member joining the cartel in 2007, is the second largest oil producer behind Nigeria and ahead of Algeria, also both cartel members. The sub-Saharan country experienced a massive oil boom from 2002 into 2008 after the discovery of considerable offshore pre-salt oil reserves. The West African and South American margin basins were found to share many characteristics, i...
Source: oilprice.com