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Russia, Angola sign agreements on cooperation, security

Other News Materials 31 October 2006 18:16 (UTC +04:00)

(RIA Novosti) - Russia and Angola signed 10 economic cooperation and security agreements Tuesday following presidential talks in Moscow.

Angolan President Jose Eduardo Dos Santos arrived in Moscow for a three-day visit Monday with an agenda dominated by bilateral economic and international issues.

The sides signed a number of intergovernmental agreements, including a treaty on legal support in criminal cases, a treaty on the extradition and transfer of convicted criminals, an agreement on cooperation in the fight against drug trafficking, and an agreement on military-technical cooperation, reports Trend.

Several Russian companies also signed cooperation agreements with Angolan partners on a variety of joint projects.

Russia is currently Angola's 10th-largest trading partner, according to Rossiiskaya Gazeta, a government daily. But meeting with Lavrov in September, the Soviet-educated Dos Santos urged more intensive cooperation with Russia, above all in the development of new iron ore, oil and gas deposits, and space.

Following today's summit in the Kremlin, Russia's LUKoil Overseas Ltd. and Angola's state-controlled oil concessionary Sonangol signed a memorandum of understanding on the prospecting and development of four oil fields in Angola.

LUKoil's president Vagit Alekperov called the memorandum a breakthrough in the development of oil and gas deposits in Angola.

"The signed documents allow the Russian companies to actively invest in geological prospecting and start production of oil and gas in Angola," he said.

In addition, Russia's energy giant Gazprom [RTS:GAZP] and Sonangol signed a memorandum on cooperation, and Russia's diamond-mining giant Alrosa and Angolan national diamond producer Endiama signed a protocol on cooperation.

Alrosa has about a 40% stake in the Catoca diamond joint venture in Angola, which produces around 6 million carats of crude diamonds a year.

Alexander Nichiporuk, the head of Alrosa, said the signed document outlines the Russian company's plans in Angola for the near future.

"In particular, we are planning to expand our activity in the northwest of Angola," Nichiporuk said. "We are starting to prospect on a rather large territory with our Angolan partners."

Angola has shown brisk economic development exploiting its vast mineral resources since the government signed a ceasefire agreement with American-backed UNITA rebels in 2002, following 27 years of bloody civil war.

The country, which was in ruins several years ago, plans to export up to 2 million barrels of oil annually, largely to the United States and China, by 2008.

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