22 May 2014

Angola: Oil Production Reached Over a Billion - Minister

Benguela — The global production of crude oil between 2012 and 2013 reached 1.2 barrels in the years 2012 and 2013, corresponding to an average daily output of 1,7 million barrels.

This was announced Thursday in Lobito, central Benguela province, by the Oil minister, Botelho de Vasconcelos.

The minister was addressing the opening of the Oil Ministry's Broad Consultative Council taking place from May 22-24 in Lobito , with the participation of senior officials of the sector and directors of companies operating in the oil field.

According to the minister, this accumulated production (633.1 million barrels) in 2013 and (626.1 million) in 2013, corresponds to 97,84 percent of the output forecast for the two years, while the production for 2014 is estimated at 655 million barrels.

However, the minister admitted some fall in the planning in the first quarter of the year, with a production of 142,2 million barrels, corresponding to 88,06 percent of the global production predicted.

Speaking of the performance and constraints recorded since the latest Consultative Council held in 2010 in Saurimo, northeastern Lunda Sul province, Botelho de Vasconcelos admitted a moderate growth from the 1980's to 90's , partly due to the intensification of production in shallow waters.

But he mentioned a steep growth from the year 2000 to 2008, thanks to the start of production in deep water fields.

He stated that crude oil production in 2012/2013 showed a drop, due to various constraints like stoppage and unplanned restrictions in the main blocks, natural depletion, closing of wells and other factors.

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