Ver Angola


Oil production could grow by around 32.8 thousand barrels per day in 2023

Oil production could increase by around 32.8 thousand barrels a day next year, with figures rising from 1.14 million barrels a day this year to 1.18 million barrels a day, according to government expectations.


The conjectured increase will be in accordance with the increase in production levels of blocks 15/06 (8.59 percent), 14 (8.26 percent), 15 (8.24 percent), 31 (4.13 percent) percent) and 17 (7.45 percent), with the latter having the highest performance being operated by TotalEnergies, according to the 2023 General State Budget (OGE) substantiation report, cited by Angop.

Among the forecasts for next year, there is the number of total oil production which is conjectured at 430.7 million barrels per year, as opposed to the 419 expected by the end of this year.

According to Angop, the OGE 2023 proposal also establishes the average price of a barrel of oil at 75 dollars against the previous 59 dollars.

Thus, according to Angop, with this and other economic indicators for the next year, the Government foresees a strengthening in the process of recovery of the national economy, with a real development of the Gross Domestic Product (GDP) in the order of 3.30 per percent compared to the 2.7 percent predicted for this year.

The previous growth for next year is based on expectations of an increase in oil and gas production of around 2.98 percent – or 2.8 percent if gas is left out – and the non-oil domain (3,42 percent).

These forecasts for the coming year were based on the average price of a barrel at 75 dollars, an average oil production per day of 1.18 million barrels and expected inflation of 11.1 percent.

It should be noted that a total of 351.7 million barrels of oil were exported by the country, at an average cost of 102.48 dollars, until October this year, writes Angop, citing data released on the Ministry of Finance website, provided by the Special Taxation Directorate.


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