Ver Angola

Energy

Oil production in the country should reach 1.3 million barrels per day in 2021

The Secretary of State for Petroleum, José Alexandre Barroso, considers that the country's oil production is not conditioned by OPEC and estimates that production will reach 1.3 million barrels of oil per day by the end of next year.

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The responsible, who was speaking this Fridday at the opening of the Consultative Council of the Ministry of Mineral Resources, Oil and Gas, representing the Minister Diamantino Azevedo, explained that the oil production should increase from 1 million and 249 thousand barrels of oil per day to 1 million and 267 thousand barrels per day in January next year. José Alexandre Barroso also estimates that by the end of 2021 the daily production will be more than 1.3 million barrels of oil.

The responsible made known that this adjustment does not put in question "the production volume inscribed on the State Budget for 2021, that is, of 1 million and 220 thousand barrels".

Taking into account the data presented, the Secretary of State for Petroleum, cited in a publication on Facebook of the Ministry of Mineral Resources, Oil and Gas, considered that the figures "clearly confirm that Angola's production levels are not conditioned by the volume of production set by OPEC, but rather by the natural decline of the fields, suspension of drilling activity in 2020 motivated by the covid-19 pandemic and the absence of investment in exploration in general.

To reverse the trend and, based on world economic growth prospects, to 2021, when "Angola will assume the rotating presidency of the organization, OPEC reaffirmed the gradual replacement" of two million barrels of oil per day, "with monthly increases of no more than 500 barrels per day in January," it indicated.

In his speech, José Alexandre Barroso also made it known that for the mining sector, the country plans to start next year with the Longonjo Rare Lands, in Huambo, and Quilengues, in Huila.

The tutelage "is still expected in this legislation (2017-2022) to begin with the works of a logistics center in Dundo, Lunda Norte province," he said, adding that this center will be "the embryo of a future peripheral industry to the extractive industry that will give all the support both in terms of agro-industrial products and inputs needed by the mining industry.

He also stressed that the Luanda Refinery is being remodeled, thus aiming to increase gasoline production. As for the Lobito Refinery, he indicated that new studies are being made and that its construction should start in 2022.

"The Cabinda Refinery is under construction and the first phase is expected to be concluded in the first half of 2022". The Soyo Refinery is under tender and it is estimated that it will be awarded in the first quarter of 2021.

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