Luanda, Angola — 10 October 2012 – The BP oil group plans to invest around US$10 billion in Angola over the next 10 years, group vice president for communications Paulo Pizarro has revealed in the capital city.

Macauhub News Agency reports that, cited by Angolan news agency Angop, Pizarro said that BP had already invested US$15 billion in its business in Angola, and that it planned to continue doing so given the oil reserves in the country and its economic and social stability.

“We plan to support Angola’s development, so we mean to be in the country for another 50 years and to give our contribution to academic and professional training of Angolan technicians,” he told Angolan inventors and designers during a visit to the company’s headquarters here.

BP is the operator of blocks 18 and 31, which are due to start operating in the next few days. It also has stakes in blocks 19 and 24 with Sonangol, in block 15 with Esso, and in block 17 with Total.

The company is also present in another nine blocks in the Kwanza basin, specifically blocks 20, 25 and 26, with a portfolio that makes BP the biggest oil operator in Angola.

Source: Macauhub News Agency. For more information, click here.