Angola’s Daria oil field begins production in October

10 March 2006

Vienna, Austria, 10 March – Angola’s Daria oil field, operated by France’s Total, will begin production in October, and in the long term will achieve daily production of 200,000 barrels per day, Angola’s Energy Ministry, Desidério Costa said Thursday.

The minister, speaking in Vienna on the sidelines of a meeting of the Organization of Petroleum Exporting Countries (OPEC), in which an Angola has observer status, said that the launch of production of the new field will have a significant impact on the plan for increasing the country’s production to 2 million barrels per day by 2007 or 2008.

Angola is the second largest oil producer in West Africa after Nigeria, with annual production of around 1 million barrels per day.

The reserves of this oil field are estimated to be 1 billion barrels, and the development of infrastructures required investment of some US$3.4 billion.

Total production capacity for the field is of almost 240,000 barrels per day, and storage around 2 million barrels. (macauhub)