Angola: Oil production falls to 1.959 million barrels per day

10 October 2008

Cape Town, South Africa, 10 Oct – Oil production in Angola fell to 1.959 million barrels per day after previously reaching the 2 million mark, the chief geologist of state oil company Sonangol, Francisco Lopes da Cunha said in Cape Town Thursday.

Speaking at the Africa Upstream 2008 oil conference, Lopes da Cunha said the fall was due to problems at an offshore well, but guaranteed that within around three weeks Angolan production would return to 2 million barrels per day.

Oil has been the backbone of economic growth in Angola and most of the large oil companies are currently focused on prospecting and exploration, mainly in the offshore area of Angola’s Cabinda enclave.

Lopes da Cunha noted that offshore production would continue to be the main source of oil in the country, and production would slightly exceed 2 million barrels per day and then slowly start falling in 2015. (macauhub)