Cabinda is a small piece of land that is separated from the rest of Angola by a small strip of Congo. The sea just off the coast of Cabinda is very rich in oil. It was declared independent in 1975 but was occupied by Angolan forces. The Republic of Cabinda claims sovereignty and is based in Paris.
Most of the local population lives from subsistence agriculture and hunting or fishing. Timber cultivation is also a source of revenue for some. The vast majority of the wealth produced in Cabinda , however, comes from petroleum. Adjacent to Cabinda s coast lie some of the world’s richest oil fields. Cabinda currently produces 700,000 barrels of crude oil each day, generating some 60 percent of the revenue which Angola receives from the petroleum industry. Today the Cabinda Gulf Oil Company in association with Sonangol, Agip Angola Ltd. And ELF Petroleum Angola Ltd. is operator of the offshore concession of Cabinda . The most active oil companies in Cabinda at the moment are Sonangol (41%), Chevron (39,2%), Elf (10%) and Agip (9,8%). Rival Cabinda National Petroleum licensed by the Republic of Cabinda claims all onshore oil rights.