Since the civil war of 1975, Angola's main source of much-needed foreign currency has been the oil industry.
SV ZOOM INTO CU Oil derrick
SV PAN Cuban oil workers
SV ZOOM INTO CU Workers on site
SV Workers PAN UP TO CU oil derrick
SV PAN U TO Oil derrick
CU PAN Oil pipelines ZOOM INTO armed soldiers
GV ZOOM INTO SV Workers inspecting oil tank
SV Oil pipelines
CU Men welding join on pipe
GV & SV Oil storage tanks (2 shots)
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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.