Lobito refinery in Angola to have initial capacity to process 120,000 barrels of oil per day

9 May 2012

The project to build the Lobito oil refinery, which has been underway since 2008, in the first phase of production outlines processing of 120,000 barrels of oil per day, Angola’s Oil Minister José Maria Botelho de Vasconcelos said Tuesday in Luanda.

On the sidelines of the International Oil and Gas Conference, the minister said that in a second phase the Lobito refinery would increase its refining capacity to 200,000 barrels of oil per day.

Also with the aim of bringing an end to imports of oil derivatives, the minister said the government was looking into construction of the first refinery in the Soyo municipality, in Zaire province, with a processing capacity of 200,000 barrels per day.

In relation to the future of oil and gas production in Angola, Botelho de Vasconcelos said that proven oil reserves stood at 9.5 billion barrels, which could last for another 50 years with the start of exploration of the so-called pre-salt layer.

In terms of natural gas reserves, he said that these were estimated at 11 trillion cubic feet, which was enough for production over a 30-year period.

The two-day conference, which began Tuesday, is attended by technical staff from the Oil Ministry, from Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol), the World Bank, and international oil and gas experts. (macauhub)