Russian President Dmitry Medvedev's visit to Angola, the first to the African nation by a Russian head of state, follows stops in Egypt, Nigeria and Namibia where he faces tough competition from China and the United States for resources.
Standing next to Angolan President Jose Eduardo dos Santos, Medvedev said Russian state-oil company Zarubezhneft and Angolan state-run oil firm Sonangol were in talks to explore for hydrocarbon deposits.
"We also discussed cooperation in other areas and hope we can realise projects that are worthy of the new age," he said.
One such project is Russia's funding of the construction of two major dams in Angola's Kwanza river. Another is a $300 million Russian loan to improve Angola's telecommunications sector with the launch of a satellite branded Angosat.
