Unscheduled stoppages in Angola’s oil production chain resulted in losses of nearly 3.5% from scheduled annual targets between January and August of this year, according to a statement from the Ministry of Mineral Resources and Oil published in Luanda.
The statement cited by the Jornal de Angola newspaper points out that unscheduled stoppages happen to different operators in the sector, at different times and circumstances.
Officials from the Ministry of Mineral Resources and Oil met on Monday with industry operators to discuss the impact of unscheduled downtime on oil production, with representatives from the National Oil and Gas Agency, Angola’s oil company Sonangol, the Association of Exploration and Production Companies of Angola (ACEPA), Total, ENI, BP, Esso, Equinor and Sonangol Pesquisa e Produção.
The newspaper noted that the Minister of Mineral Resources and Oil admitted last July that unplanned oil production stoppages are a problem for the country.
The monthly oil market report for September released by the Organization of Petroleum Exporting Countries (OPEC) reports that Angola’s oil production has fallen by 1,000 barrels per day (bpd) to 1.394 million bpd according to secondary sources and has increased by 69,000 bpd to 1.328 million bpd, according to direct communication.
The macroeconomic scenario included in the revised General State Budget for 2019 forecasts that the country’s oil production will be 1.434 million barrels per day, a drop of 136,000 barrels per day from the forecast included in the initially approved version of the State Budget. (Macauhub)