Ver Angola


Deloitte: Angola should increase oil production to 1.2 million barrels/day with OPEC exit

Deloitte considered Angola's oil production projections for 2024 to be positive, at 1.2 million barrels/day, mainly due to the renewal of block licenses and the exit from the Organization of Petroleum Exporting Countries (OPEC).

: Adele Elysee (Via Facebook Agência Nacional de Petróleo, Gás e Biocombustíveis)
Adele Elysee (Via Facebook Agência Nacional de Petróleo, Gás e Biocombustíveis)  

Projections for Angolan oil production during 2024 were presented this Monday to Lusa by Frederico Martins Correia, Partner at Deloitte for the Energy, Resources and Industry sector, projecting an encouraging scenario for the sector, without the limitations of OPEC, that Angola abandoned.

According to the expert, who spoke to Lusa regarding the "Oil & Gas Industry Outlook 2024" study, the renewal of licenses for most of the blocks that were at the end of their life, with reserves still to be explored, should boost the industry.

"And this is very important, because it guarantees that international companies that had exploration licenses for these blocks will remain in the country, which is extremely important, both for technology and for the country's credibility", said the person in charge.

The transfer of knowledge to Angolan staff, with the exploration of the aforementioned blocks by international companies, must also leverage the "standards" of professionalism in the industry and the "standards" of 'compliance', which is "quite positive", he pointed out.

Frederico Martins Correia also highlighted the "profound work" of the National Oil, Gas and Biofuels Agency (ANPG), the Angolan concessionaire, in bidding for new blocks, namely in the Congo Basin, where "it was successful".

"We also have several national organizations coming on board as responsible or leaders of contractor groups and operators of these new licenses, which is also positive, because if, on the one hand, we will continue to have international companies leading the main blocks, we will also have the national companies to have their opportunity to enter into the exploration of blocks", he argued.

The exploration of marginal fields, allocated to the border areas of the blocks already in operation, is also a boosting sign for the Angolan oil industry in 2024.

"What was done was to transfer this exploration to companies that are already exploring the main block next to these marginal fields and this is very positive, because large companies will also be able to explore these marginal fields", he highlighted.

For the person responsible for Deloitte for the Energy, Resources and Industry sector, without the limitations of the Organization of Petroleum Exporting Countries (OPEC), a cartel abandoned by Angola in December 2023, the country can increase its production to 1.2 million of barrels/day.

"Because we were making 1.06 million barrels/day, OPEC's quota was 1.1 million barrels and if everything goes well we will be able to reach 1.2 million barrels and that was only possible outside OPEC", shot Frederico Martins Correia.

According to Deloitte's Oil & Gas Industry Outlook 2024 study, the global oil and gas industry is off to a solid start in 2024, driven by financial strength and high oil prices.

The Deloitte study, which annually assesses the prospects for the sector, states that projections indicate that the level of global investment in hydrocarbons will reach 580 billion dollars, a significant increase of 11 percent compared to the previous year.

The estimate is that more than 800 billion dollars in free cash flows will be generated throughout the year, the document states.

According to the study, in economic terms, any fluctuation of the US dollar in relation to other currencies, combined with the trajectory of industrial activity and consumption by civil society, could have an impact on inflation, thus also influencing energy prices in 2024.

Deloitte also believes that 2024 could be very dynamic from the point of view of mergers and acquisitions in the global oil and gas industry.


Permita anúncios no nosso site


Parece que está a utilizar um bloqueador de anúncios
Utilizamos a publicidade para podermos oferecer-lhe notícias diariamente.