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Oil giants invested large sums in dubious Angolan research center

Equinor, BP, Total, Repsol, ConocoPhillips and Eni have all invested substantial figures into a research center in Angola, which several observers doubt will ever materialize.

Arkivfoto af olieplatform i Californien. | Photo: Colourbox

When Equinor, BP, Total, Repsol, ConocoPhillips and Eni were allocated Angolan licenses in 2011, the deal's conditions required the groups to invest capital into a research center on behalf of the local state-owned company, Sonagol.

A total of more than EUR 240 million has thus far been invested into the Angolan operation, reports Norwegian media E24, adding that there's still no research center to show for the money, and several specialists now doubt whether the project will ever be built.

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