Angola: Sonangol drills 29 oil wells in 2008

14 April 2009

Luanda, Angola 14 April – The Sociedade Nacional de Combustíveis de Angola (Sonangol) and its associates drilled 29 oil wells in 2008, with an 80 percent success rate, said the director of the Oil Exploration Department Monday in Luanda.

Severino Cardoso, speaking at a seminar on oil contracts, said that Angola had a production capacity of two million barrels per day, but produces only 600,000 barrels, because of restrictions from the Organization of Petroleum Exporting Countries (OPEC).

The Sonangol engineer warned, however, of the fact that all Angolan petroleum production was derived from the Congo basin, and spoke in favour of adopting Brazil’s model, whose production comes from various basins.

According to Severino Cardoso, quoted by Angolan news agency Angop, the plan for national oil production for the next few years should focus on the identification of significant reserves in the Quanza basin on land or at sea (ultra-deep waters) and on making the information on the distribution of oil wells consistent.

However, he warned of the possibility of a decrease in oil production over the next few years and therefore defended investment in research into new resources and technologies and the training of Angolan personnel.

The seminar was aimed at making a comparative study of oil contracts from members of the African Petroleum Producers Association (APPA), and representatives from companies operating in Angola and other member countries as well as international consultants and experts attended.

The member countries include Angola, Algeria, South Africa, the Democratic Republic of Congo, Congo, Benin, Cameroon, the Ivory Coast, Egypt, Gabon, Equatorial Guinea, Libya, Nigeria, Chad, Mauritania and Sudan. (macauhub)