"The projects we are currently carrying out aim to reach these production levels (10 percent) and when this happens you will be able to see for yourself. Right now we are close to 3 percent to 4 percent and the goal is to reach a percentage that is close to that by 2027", the 10 percent, the chairman of the board of directors of Sonangol, Sebastião Martins, told Lusa this Wednesday.
The official, who was speaking on the sidelines of the opening ceremony of the 5th Angola Oil & Gas Conference (AOG) 2024, which began this Wednesday in Luanda, said that achieving this national oil production quota has as a reference base the achievement of 80 thousand barrels of oil per day.
"We are more concerned with achieving production levels that cover the 80,000 barrels of oil per day where we operate, because let's not forget that Angola has Sonangol in more than 35 oil concessions and of the 1.1 million barrels of oil produced per day, Sonangol's net right is 200,000 barrels of oil per day," he explained.
Sebastião Martins said that the Angolan state oil company is also committed to maintaining national production levels because, he noted, "the potential exists" and "the executive has also contributed to improving fiscal conditions and existing legislation."
"It is up to us to work so that, in the end, these 1.1 million barrels that we are producing today are maintained for longer, because Angola is a country that still depends on this great resource," he stressed.
When asked whether Sonangol's goals will not be affected by the current decline in oil production in the country, the president of the national oil company signalled that the decline is something natural and is being counteracted with the "introduction of new projects that allow us to offset" the situation.
"The worst thing is that production is declining and nothing is being done, which is why legislation in Angola is improving, tax terms are becoming more friendly and we, the players in the exploration and production sector, are investing so that these production levels do not fall below 1.1 million barrels", he argued.
He reaffirmed the oil company's commitment to clean energy production, with the "implementation of specific projects" with national and foreign partners that are concerned about climate change.
"This means that, currently, Sonangol already sees itself as an energy company that covers the entire value chain of the spectrum that has to do with energy with low greenhouse gas emissions", said Sebastião Martins.
The AOG 2024 conference, opened this Wednesday by the President of the Republic, João Lourenço, runs until Thursday, in Luanda, under the motto "Boosting exploration and development to increase production in Angola", bringing together several national and international operators.
