• Short Summary

    Since the civil war of 1975, Angola's main source of much-needed foreign currency has been the oil industry.

  • Description

    1.
    SV ZOOM INTO CU Oil derrick
    0.06

    2.
    SV PAN Cuban oil workers
    0.14

    3.
    SV ZOOM INTO CU Workers on site
    0.21

    4.
    SV Workers PAN UP TO CU oil derrick
    0.35

    5.
    SV PAN U TO Oil derrick
    0.45

    6.
    CU PAN Oil pipelines ZOOM INTO armed soldiers
    1.01

    7.
    GV ZOOM INTO SV Workers inspecting oil tank
    1.09

    8.
    SV Oil pipelines
    1.20

    9.
    CU Men welding join on pipe
    1.31

    10.
    GV & SV Oil storage tanks (2 shots)
    1.41



    Initials BB



    Script is copyright Reuters Limited. All rights reserved

    Background: Since the civil war of 1975, Angola's main source of much-needed foreign currency has been the oil industry. It has been the only comparatively stable and productive sector of the economy. The government is anxious to discover the full extent of reserves in the country, and a number of exploration projects are under way.

    SYNOPSIS: This derrick is at Soyo, a major project in the north-east of Angola, near the Zaire border. technical advisers from Cuba are still in Angola. They fill the gap created by the withdrawal of Portuguese technicians in 1975.

    A study by Exxon, the world's largest oil company places great importance on African oil production. It predicts that by 1990 ten percent of world production will come from the continent. The study holds out great hope for new discoveries in Angola, where the oil was first produced in 1968.

    The government has a fifty-one percent stake in all operations in Angola through the national oil company, Sonangol. royalties are shared with the American-based company, Gulf Oil. sonangol dominates all exploration in the country. Angola's relations with Zaire have recently improved, but security is tight because the FNLA guerrilla movement is still active in the area. A major factor restricting the sinking of new wells in this remote part of Angola is money. Each new drilling can cost up to five million dollars (U.S.). Thirty percent of the wells sunk in Soyo are producing oil and at forty-five barrels a day, Soyo alone is already producing a fifth of last year's total production in Angola, with the promise of more to come.

  • Tags

  • Data

    Film ID:
    VLVA6236IVGYYC50ZCO44DZ5N0QGG
    Media URN:
    VLVA6236IVGYYC50ZCO44DZ5N0QGG
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    20/12/1978
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:42:00
    Time in/Out:
    /
    Canister:
    N/A

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