Russia And Angola Sign Energy Pact

Russian President Vladimir Putin has held discussions with Angola's President José Eduardo dos Santos which have led to a series of agreements on energy and minerals exploration. Following the talks, Russia's largest oil company Lukoil and Angola's state oil company Sonangol signed a Memorandum of Understanding (MoU) on joint exploration of Angola's offshore oil fields. In addition Sonangol and Russian gas monopoly Gazprom signed a deal agreeing to invest as much as US$100mn on oil and gas exploration in Angola. In 2005, Angola was the second fastest growing economy in the world (after Azerbaijan) with a gross domestic product (GDP)

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