Angola’s proven oil reserves total 13 billion barrels

16 October 2013

Angola has proven oil reserves of 13 billion barrels, the country’s deputy oil minister, Aníbal Octávio Teixeira da Silva said Tuesday in Daegu, South Korea.

The figure is around 4 billion barrels more than the estimate of 9.1 billion barrels announced by the Organisation of Petroleum Exporting Countries (OPEC) at the end of 2012.

Speaking at the World Energy Congress, the deputy minister said that Angola would continue to produce 1.7 million barrels of oil per day until the end of the year, and that in 2015 Angolan oil production was expected to rise to 2 million barrels per day.

Information on contracts for November showed that Angola will export a daily average of 1.74 million barrels of oil per day, which is practically the same amount as Nigeria, which is still Africa’s biggest oil exporter. (macauhub)