"Due to maintenance work at the Dalia well, we project oil production to drop 1.2 percent to 1.13 million barrels per day in 2023, and we anticipate a drop of nearly 13.7 percent in the average oil price. barrel of oil, to 86.9 dollars", write the analysts in a comment on the evolution of oil production in Angola, which in March registered the lowest value in almost two decades.
In the note, sent to customers and to which Lusa had access, analysts from the African department of Oxford Economics also say that the growth of Angola's Gross Domestic Product is expected to slow down, from the 2.9 percent recorded last year to 2. 3 percent this year, in contrast to the forecasts of the Government (3.3 percent), World Bank (2.6 percent) and International Monetary Fund (3.5 percent), with the Banco Fomento research office Angola predicting an even greater slowdown, to up to 1.5 percent this year.
The rise in oil production from new wells and the extension projects for older ones completed at the end of 2021 and at the beginning of last year "helped to stabilize oil production last year, but the addition of new oil capacity was, in for the most part, canceled out by the continuing operational difficulties that led to production drops in the oldest wells", add the analysts.
It is also to try to contain the decline in oil production and the disinvestment in the country's deepest wells that Angola plans to launch a tender for the exploration of 12 blocks on land at the end of September, conclude the analysts.
