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Angola offshore oil to be double Nigeria’s by 2020 -Shell

Reuters UK

Tue Feb 23, 2010 9:55am GMT

ABUJA, Feb 23 (Reuters) – Angola’s offshore oil production is likely to be double that of Nigeria by 2020, Royal Dutch Shell (RDSa.L) said on Tuesday.

The two countries rival each other as Africa’s biggest oil producer, but oil majors say Nigeria risks losing out if changes to its terms make it less profitable to develop deep water reserves.

“By 2020, Angola’s offshore production is likely to be double that of Nigeria,” Shell’s Executive Vice President for sub-Saharan Africa, Ann Pickard, told an industry conference in Abuja.

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(Reporting by Joe Brock and Nick Tattersall)


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