Chevron guarantees that the bet on Angola is to keep

The oil multinational Chevron guarantees that the commitment in Angola "it's serious", forecasting to invest this year, in the country, around eight million dollars in social programs linked to health, education and economic development.

The information was transmitted by the director for social investment of Cabinda Gulf Oil Company (Cabgoc), Chevron's operating unit in Angola, Cláudio Lopes, at the end of a visit by journalists to the company, in Luanda.

In recent days, news has emerged locally, however denied by the Government, about the possibility of Chevron abandoning the oil production in the country.

According to Cláudio Lopes, Chevron's commitment to Angola "is serious" and the multinational intends to "continue to collaborate with the Government of Angola and with all social and investment actors to ensure and help create prosperity for the country".

"In terms of the social sector, last year we had an investment above five million dollars, split between own funds and partnerships. For 2018, we estimate investing between seven and eight million dollars, on the three pillars we are focused on," he said.

Operating in Angola for 65 years, with a presence in the energy market and deepwater operations, conventional production of oil, gas and liquefied gas in Cabinda and Luanda, Cláudio Lopes said that the operation of Chevron in the country "is stable".

"And within the standards that are our commitments. The industry is quite complex and we are trying to create mechanisms to try to survive in any economic environment, with the price of barrel of oil in high or low", he maintained.

During the presentation of a study of the economic impact of Chevron in Angola, the company's director for Social Investment made known also that social investment programs have already benefited around 200,000 families in Cabinda and Luanda, areas where the oil company operates.

He added that Chevron generated nearly 79,000 jobs between 2010 and 2016, also adding that the oil company's annual contribution to the National Gross Domestic Product, through the exploration of blocks 0 and 14, in the Angolan province of Cabinda, it is 6200 million dollars.

"In addition to this direct contribution, we generate for the coffers of Angolan State an annual average of almost 2.6 billion dollars and the supplier level we generate around 2000 million dollars, between operations, support services and other services", he added.

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