Thus, Angola thus has the international guarantee for the production of 1.3 million barrels per day, according to the December production table published by OPEC+ on its website, after the organization's 22nd ministerial meeting.
It should be remembered that the country remains the third largest African producer, despite having been experiencing a decline in production, currently standing at 1.1 million barrels per day. However, this value may rise as new marginal fields come into operation.
In his Discourse to the Nation, João Lourenço stressed that the Government would be working to review the downward trend in the oil sector, through the swift application of the new legislation approved in the field of Oil and Gas, recalls Angop.
It is estimated that the recovery rates of production fields will increase, as well as the re-launch of oil exploration in general. Other points to explore are the acceleration of non-associated natural gas production and the use of associated gas production to supply Liquefied Natural Gas (LNG).
At this Thursday's meeting, OPEC and non-OPEC members agreed to maintain the current production strategy, which involves extending the agreement established last August: monthly increases of 400,000 barrels of oil per day.
The organization's next meeting, in this case the 23rd ministerial meeting, will take place on 2 December. Angola chairs the OPEC Conference, being represented by Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas.
Oil: Angola with 'green light' to produce 1.3 million barrels/day in December
The understanding between the Organization of Petroleum Exporting Countries (OPEC) and producer countries outside the organization will allow for an increase in oil production by around 400,000 barrels a day as of December.
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