Cabinda National Petroleum Plc (CNP) has obtained an oil and gas lease from the Republic of Cabinda and will shortly commence operations in the eastern part of the nation.
April 25, 2006 (Press Release) --
April 25, 2006
Jamestown, St. Helena:
Cabinda was the 39th African state recognized by the Organization of African States but was occupied by Angolan troops almost immediately upon achieving independence from Portugal in 1975. The reason – oil – and lots of it: Cabinda under Angolan occupation is currently sub-Saharan Africa's second biggest oil producer, following Nigeria, most of it offshore. It is also the site of one of Africa’s longest running colonial struggles, where the Cabindans control the countryside while the Angolans loot the natural resources to pay off their national debt. Little if any of the proceeds of the “black gold” return to Cabinda except to finance the Angolan army of occupation.
The increased demand for oil worldwide has changed all that. With oil topping $70 a barrel, untapped resources in the interior of Cabinda long under the control of the Cabinda Defence Force and the civil authorities of the Republic of Cabinda have now become open to exploration and eventual production. Cabinda National Petroleum Plc (CNP) has obtained an oil and gas lease from the Republic of Cabinda and will shortly commence operations in the eastern part of the nation. While Cabinda’s offshore oil resources are estimated to be worth billions of dollars, the eventual value of untapped oil and gas reserves onshore which have been off limits due to the military conflict are thought to be much higher.
Cabinda National Petroleum (CNP) is based in Saint Helena off the African coast with an office in London. CNP is actively seeking partners in exploration, financing, and production.
Address inquiries to:
Managing Director - CNP
cnpplc@gmail.com
Jamestown, St. Helena:
Cabinda was the 39th African state recognized by the Organization of African States but was occupied by Angolan troops almost immediately upon achieving independence from Portugal in 1975. The reason – oil – and lots of it: Cabinda under Angolan occupation is currently sub-Saharan Africa's second biggest oil producer, following Nigeria, most of it offshore. It is also the site of one of Africa’s longest running colonial struggles, where the Cabindans control the countryside while the Angolans loot the natural resources to pay off their national debt. Little if any of the proceeds of the “black gold” return to Cabinda except to finance the Angolan army of occupation.
The increased demand for oil worldwide has changed all that. With oil topping $70 a barrel, untapped resources in the interior of Cabinda long under the control of the Cabinda Defence Force and the civil authorities of the Republic of Cabinda have now become open to exploration and eventual production. Cabinda National Petroleum Plc (CNP) has obtained an oil and gas lease from the Republic of Cabinda and will shortly commence operations in the eastern part of the nation. While Cabinda’s offshore oil resources are estimated to be worth billions of dollars, the eventual value of untapped oil and gas reserves onshore which have been off limits due to the military conflict are thought to be much higher.
Cabinda National Petroleum (CNP) is based in Saint Helena off the African coast with an office in London. CNP is actively seeking partners in exploration, financing, and production.
Address inquiries to:
Managing Director - CNP
cnpplc@gmail.com
Email
Print
SPAM
LEAVE A COMMENT
