BP Angola to produce 400,000 bpd by 2010

Oct 10, 2005 02:00 AM

BP Angola oil production is expected to reach 400.000 bpd by 2010, when the firm's investments will have amounted to $ 8 bn.
The information was released in Luanda by the firm's representative to Angola, José Patricio, on the fringes of the workshop on the relation between BP Angola and its economic and social partners.

BP Angola will reach the said figure, as a result of the start of production, in 2007, of the block 18, followed by block 31, in 2009, where the company is an operator, added to its participation in the blocks 15 and 17 already in operation, under ExxonMobil and Total.
According to Jose Patricio, these are encouraging estimates, as there are many oil fields being currently developed.
"Up to now, BP Angola has been a company with much success in terms of (oil) discoveries, by recording, of late, rates of 90 %, in terms of exploration," he said.

Jose Patricio said as well his company is an Angolan State's strategic partner, adding that a programme is being developed in partnership with Sonangol, substantiated in the production, locally, of part of the modern equipment for support and exploration of oil in the country.
The source further stated that the expansion of the country's oil industry, should be reflected on the local firms to have a growing participation in the process of research, production and support in all fields of activity.

According to him, although the oil industry is very demanding (in terms of high technology), part of the equipment supporting the activity on the blocks 18, 31 and others, is manufactured in the country's Sonamet (Lobito) and Sonils (Luanda) bases, which is an Angolan industrialisation challenge.
The production of some equipment in the mentioned bases is an indication that Angola already has some technological capacity, he stressed, adding that the programme seeks mainly to reduce production costs, increase job generating capacity and create national wealth.

Source: Angola Press Agency
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