Angola may surpass “black gold” production target

Oil production in Angola can reach the annual target above 1.1 million barrels per day, said this Thursday, in Luanda, the production director of the National Petroleum Agency (ANPG), Ana Miala.

The increase in levels is justified by the fact that the production of “black gold” reached 1.2 million barrels per day in the second half of this year.

The annual oil production target foreseen in the General State Budget (OGE) 2023 is 1,180,000 barrels/day at an average price of USD 75/barrel.

Ana Miala, who participated in the panel on “Exploration and production opportunities in Southern Africa” at the 4th International Conference and exhibition, Angola Oil and Gas 2023 (AOG2023), said that in the coming years, the goal is to be above current levels, looking towards the results of ongoing research and exploration, which are expected to be satisfactory.

Regarding the production losses that occur daily, she said that they are in the order of 15%, considering the period of a “good year”, as there is almost no such decline felt.

“In 2022, production was higher than what was produced in 2021, without advancing data,” she said.

But official data indicate that oil production, in 2022, amounted to 391 million barrels of crude at an average price of 101,10 dollars, resulting in gross revenue in the order of 39.94 billion US dollars.

The oil installations, that is, fields, date back to the 30s and 40s, which also influences the number of barrels produced compared to other crude producing countries.

But for the person responsible, the increase in oil exploration in the country must always be in alignment with international companies, investments in universities and young people, reversing the workforce in oil companies, equating national employees with foreign employees.

Dália field leads

But of the group of fields, Dália is one of the best in terms of production volume, having reached more than a billion barrels, that is, more than a billion barrels of oil, according to the person in charge who did not specify the period.

It has reserves estimated at more than 200 million barrels and additionally has resources that can be converted to reserves and production above 500 million barrels.

“It is a giant field and today the sharing of oil production/profit in the Dália field is 80% in favor of the State and 10% for contractor groups”, she said.

In her opinion, in the current scenario, sharing production/profit does not encourage the investor to continue investing, so a project is being developed that will allow the contractor group to have 20% resources.

The International Conference ended in the early evening of this Thursday, and took place under the motto “Energy Security, Decarbonization and Sustainable Development”.

It brought together African ministers and international experts, in an initiative by the Ministry of Mineral Resources and Petroleum with support from partners.

Source: Angola Press News Agency