Angolan oil production hits 1.3 million barrels per day in 2005, says minister

6 January 2006

Luanda, Angola, 6 Jan – Angola’s oil output rose to 1.3 million barrels daily with the beginning of production in the Kizomba-B development, Petroleum Minister Desiderio da Costa has said.

Speaking to representatives of oil companies operating in Angola, da Costa said results from licensing rounds for nine offshore oil blocks would be known by the end of March.

He also said fuel distribution in Angola could be privatized and the government has commissioned a study on this matter.

Angola currently chairs the African Petroleum Producers Association and will host a ministerial meeting of the organization in March, the minister told oil company executives.

Sub-Saharan Africa’s second largest oil producer after Nigeria, Angola has an estimated 12 billion barrels of hydrocarbon reserves. (macauhub)