Angola now an OPEC full right member

Dec 31, 2006 01:00 AM

To the Angolan oil sector, the year 2006 was marked by the admission of Angola to the Organisation of Petroleum Exporting Countries (OPEC) as the 12th full right member country, thus joining Algeria, Saudi Arabia, Indonesia, Libya, Venezuela, United Arab Emirates, Iraq, Iran, Kuwait and Qatar.
Several observers are of the opinion that the adhesion of Angolan Government to OPEC was of great political sense, for the advantages for the country in terms of technological studies and intervention in the international market, added to a more active participation in the organisation-s comprising organs.

Angola currently produces 1.4 mm barrels of oil per day. With the start in December of Dalia field in the deep waters of Block 17, nine years after its discovery and with the implementation of other projects next year, Angola’s oil production might reach 2 mm bpd, late in 2007, thus providing to Angola a great reference among the world producing countries.
Discovered in September 1997 and situated about 135 km off the coast and 1,200 to 1,500 metres deep, Dalia field contains around 1 bn barrels of recoverable reserves. It constitutes, in fact, the biggest deep waters development brought under production this year and is among the major projects of its kind in the world.

Dalia field includes 71 wells (37 of production, 31 of water injection and three of gas injection), connected to nine collectors. The submarine installation is composed of 40 km of isolated pipes to let out the production, connected to eight flexible pipes of top technology, especially manufactured for the project and designed to convey the fluids to a Floating, Production, Storage and Offloading (FPSO), with a capacity to process 24,000 bpd and a storage capacity of 2 mm barrels.
A barrel of oil carries 159 litres. Investments in the oil exploration area in 2006 reached about $ 10 bn, representing a rise of about 37 % as compared with the previous year, 2005. Also during the year 2006, public tenders for the licensing of the blocks 1/06, 5/06, 6/06, 26/06 and remainder areas of the blocks 15, 17 and 18, were put up, including the homologation of the respective business groups and signing of concerned contracts.

This year again, the Cabinet Council granted authorisation to the Oil Ministry for the splitting into blocks (46-50) of the areas of concession to the west of ultra-deep waters blocks 31-33 of the Low Congo Basin. Aero-gravimeter acquisition in Cabinda South Block prospecting was attained, over a 1,100 sq km area, in addition to 2D, 3D and 4D seismic tests in the blocks Cabinda South and 15, totalling 217 km 254 sq km and 396 sq km, respectively. Some 19 wells were drilled in 2006, nine of which are of research and ten of evaluation, having eight of them proved to contain oil, which means a high level of exploration success.
Unofficial data say the country’s oil reserves are estimated at approximately 13 bn barrels. Angola has such blends of oil as Cabinda, Nemba, Palanca, Girassol, Kuoto, Canuco, Hungo, Kuissanji and Xikomba.

Source: Angola Press Agency
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