Oil production falls in February

The oil production in Angola in February this year was set at 29.7 million barrels, meaning 4.5 million less compared to the results of January.

According to the monthly report published by the National Concessionaire, the National Agency of Oil, Gas and Biofuels (ANPG), which ANGOP has had access to, Angola produced a daily average of 1.06 million barrels per day (BOPD) against the 1.14 million previously forecast.

In January this year, Angola´s oil production was 34.29 million barrels, with a daily average of 1.106 million against the 1.197 million barrels forecast.

In the document, the National Concessionaire does not advance the causes of the fall of production, but may be related to the entry into preventive maintenance of Block 17, operated by TotalEnergies.

According to this publication week from the national consultant company PetroAngola, to which ANGOP has 0had access, the country is producing less than 1 million barrels of oil daily for the first time since 2003, when it reached this milestone in oil production.

The current production of Angola, a member of Organization of the Petroleum Exporting Countries (OPEC), is around 975.000 barrels of oil per day, according to the consultancy, which points out as one of the causes, the planned shutdown recorded in Block 17, which is expected to last 35 days.

At the signing ceremony of the Memorandum of Understanding between the General Tax Authority (AGT), ExxonMobil and Sonangol, which took place on March 14, the ANPG CEO Paulino Jerónimo, said that work was continuing with the oil companies in order to increase production.

The work is focused on recovering production levels, and the bidding process for oil blocks located in the Namibe basin, Benguela basin, Kwanza basin and Lower Congo basin has already been launched, with the aim of replacing reserves and promoting exploration activity.

Source: Angola Press News Agency (APNA)