Angola to produce 2 million barrels of oil per day in 2014 or 2015

11 July 2013

Angola will produce 2 million barrels of crude oil per day in 2014 or 2015, Petroleum Minister José Maria Botelho de Vasconcelos said on Wednesday in Luanda, reports the Bloomberg financial agency.

“Based on figures we now have, the production increase to 2 million barrels per day will take place either next year or in 2015,” Vasconcelos stated on the sidelines of a conference in the Luanda capital.

Angola produced an average of 1.751 million barrels of oil per day this year. Its estimated reserves are 12.777 billion barrels.

Citing the petroleum minister, Angolan news agency Angop reported last April that reserves stood at 12.6 billion barrels and should increase due to exploitation of the so-called pre-salt layer, which extends for more than 1,100 km. (macauhub)

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