Angola Hopes to Stabilize Oil Production at 1.2 Million b/d in the Medium Term
Angola expects to stabilize oil production at the level of 1.2 million barrels per day in the medium term compared to the existing level of 1.15 million b/d, the Africa Oil+Gas Report portal reports with reference to the Director of production of the National Oil, Gas and Biofuels Agency (ANPG) of the country, Anu Miala.
According to her, at the moment the country is capable of producing 1.18 million bpd.
“We are not concerned about the growth of production, but its stability. The goal is to continue to produce more than 1.1 million b / d until 2035,” Miala said, adding that the same volumes are planned to be maintained until 2050.
She believes that the planned licensing round will lead to the creation of conditions that will stop the fall in oil production in the country.
According to ANPG, oil production in Angola in May amounted to 34.4 million barrels, which corresponds to 1.11 million b/d against the forecast of 1.185 million b/d.
Angola, a member of OPEC, received a production quota of 1.455 million b/d under the OPEC+ agreement on production regulation.
