Angola produces 1.259 billion barrels of oil in 2012-2013 period

23 May 2014

Angola’s total accumulated oil production in 2012 and 2013 was 1.2592 billion barrels, or an average of 1.73 million barrels per day, the country’s oil minister, Botelho de Vasconcelos said Thursday in Lobito (Benguela province).

Speaking at the opening ceremony of the 10th consultation council of the Oil Ministry held in the city of Lobito from 22 to 24 May, the minister added that total production (633.1 million barrels in 2012 and 626.1 million barrels in 2013) accounted of 97.84 percent of the total forecast for the two-year period.

In 2014 production is expected to total 655 million barrels, or around 1.8 million per day, and in the first four months of the year production totalled over 142 million barrels of crude oil, said Botelho de Vasconcelos, cited by Angolan news agency Angop.

“Looking at the levels achieved in the two years (2012/2013) we can see a drop in crude oil production compared to projections, but that is due to a number of constraints, such as stoppages and unforeseen restrictions in the main blocks, natural depletion, maintenance, well closures and others,” he said.

At the opening session of the consultation council, held until Saturday, Botelho de Vasconcelos also said that “the maturing process of reserves and projects being studied should ensure the sustainability of production of 2 million barrels by 2021 and it is essential that projects that are in the study phase are approved as soon as possible.” (macauhub/AO)