Portugal’s Galp Energia plans to double oil production in Angola by 2017

8 April 2011

Kleimond, South Africa, 8 April – Portuguese oil company Galp Energia plans to more than double its oil production in Angola to 40,000 barrels of oil per day by 2017, the managing director of Galp in Angola, Renato Azevedo said in Kleimond, South Africa.

Speaking to the Reuters news agency on the sidelines of a meeting on oil and natural gas, Azevedo said that, “if everything goes well and the development of all the projects we have at the oil pipelines are carried out in time, we estimate that between 2017 and 2018 Galp will be producing 40,000 barrels per day,” Azevedo told Reuters.

The Portuguese oil company has invested heavily in projects in Angola, mainly in Tômbua-Lândana, an oil field located in Block 14 of the Angolan sea.

This projection is in line with the expectations of Galp’s officials, who project that by 2020 the company will be producing 200,000 barrels of oil per day, which is twice the amount produced in 2010.

As well as Block 14, Azevedo said that Galp Energia was also interested in developing projects in the Lianzi block, as well as in Block 32, where Total operates.

“We are actively seeking new opportunities in Angola. We plan to increase our portfolio and even to become an upstream operator in the country when the opportunity presents itself,” said Azevedo. (macauhub)