Diamantino Azevedo was speaking to the press on the sidelines of the 10th Meeting of the Advisory Council of the Ministry of Mineral Resources, Oil and Gas, which takes place under the motto “Mineral Resources, Oil and Gas: Challenges and Solutions”.
The official highlighted that, essentially, the objective is to stabilize production above one million barrels of crude oil per day, counting on positive results for the year that ends.
In his opening speech, the minister highlighted that, in the field of oil production, the focus was on increasing the rate of replacement of reserves and the materialization of opportunities to guarantee the maintenance of production levels, consolidating Angola's position as a of the largest oil producers in Africa.
According to Diamantino Azevedo, the sector will continue to look at oil reserves, searching for oil, through the implementation of the Oil Exploration Strategy, the Production Strategy and other instruments, such as the bidding for blocks and the permanent offer of blocks.
In 2023, 12 onshore blocks in the Lower Congo and Kwanza basins were tendered and the concession area of the New Gas Consortium was awarded.
Risk-bearing service and production sharing contracts for different blocks were also approved, renegotiated and signed, and the Etosha-Okavango Basin Study was initiated to assess the hydrocarbon potential of Angola's interior sedimentary basins.
