Month-on-month drops in oil production in Angola, which have fallen to 1.6 million barrels per day, were explained by Angola’s Oil Minister based on maintenance problems at some wells as well as exhaustion of others, Platts news agency reported.
On the sidelines of a meeting of representatives of the 12 member-states of the Organisation of Petroleum Exporting countries (OPEC) in Vienna, José Maria Botelho de Vasconcelos confirmed the 1.6 million figure and also admitted that exhaustion of some blocks was at the root of the downturn.
Oil production in Angola averaged 1.65 million barrels per day in the last six months and has fallen every month since November 2013, according to figures collated and published by Platts.
At the end of May the Minister said that Angola produced over 142 million barrels of oil between January and March, which by the end of this year is expected to total 655 million barrels.
“In 2015 production is expected to reach 1 million barrels of oil per day once new oil fields come online, the projects for which are in the execution phase,” said Botelho de Vasconcelos at the opening of the 10th Oil Ministry Consultative Council. (macauhub/AO)