The banknote was for 50 kwanzas (AOA), corresponding to about 2.25 Norwegian kroner at the official exchange rate prevailing in September 2016. Its real value was about a third of this.
“Norwegian oil interests are strongly represented in Angola,” the newspaper noted. “Norway also has diplomatic relations with a country which has rich oil and diamond resources but was characterised until recently by internal strife.
“The Norwegian flag generally follows in the oil industry’s wake. Statoil and Hydro have established a Norwegian oil colony in Angola with investment in the Girassol field, and Norwegian government ministers concerned with oil pay it visits.”
A representative of the Money Museum in Angola has provided the following explanation: “Angola has been involved in oil production since 1973 and this is currently the country’s most significant source of revenues. Oil earnings represented about 90 per cent of Angolan export revenues.”
Perhaps an explanation, but …
Two other banknotes have also been issued with oil industry motifs. One worth AOA 10 000 (NOK 450) features a drawing which resembles the platform on Angola’s Girassol field, where Statoil has an equity stake.