CAPITAL: Lisbon

MONETARY UNIT: Escudo

REFINING CAPACITY: 304,172 b/cd

OIL PRODUCTION: 0

OIL RESERVES: 0

GAS RESERVES: 0

Sonangol, the Angolan state oil company, in 1997 was negotiating to acquire a 10% interest in Petrogal, Portugal`s state oil company.

Earlier in the year, Saudi Arabian Oil Co. decided not to acquire a 27.5% interest in the company. Under that deal, Saudi Aramco would have met all of the sour crude needs of Petrogal`s refinery.

Spain`s Endesa Gas acquired 49% of Portugal`s NQF gas, owner of 25% of Portgas and 20% of Setgas. Portgas is a distributor in the north and Setgas in the south.

Nigeria was negotiating with Transgas, the state firm, to sell it 500 million cu m/year of LNG. The fuel would be delivered to Enagas` regasification facilities at Huelva and fed through the Spanish gas distribution network to Portugal.

Mohave Oil and Gas Corp. spudded the 1 Aljubarrota wildcat near Nazare in the Lusitanian basin of west central Portugal in late 1997.

Goal of the 12,000 ft project was to test the Silves sand in the Lower Triassic. The Silves is below Upper Triassic Dagorda salt.

The operator said if the Silves is productive, the 35,000 acre structural closure could contain significant oil and gas reserves. Location is 3 miles from a 28-in. gas pipeline which crosses the block.

Mohave and partners hold an 850,000 acre license on shore and off in west-central Portugal which contains several other prospects.

Portugal`s Valorisacao a Tratamento de Residuos Solidos de Area Metropolitana de Lisboa (Norte) SA, Lisbon, was building one of the largest waste-to-energy plants in the world.

The plant will have capacity to burn about 2,000 metric tons/day of municipal waste to support electric power capacity of 43.3 MW, with power to be sold to Electricidade de Portugal.