Angola's oil output drops to 1.6 million bpd

Jun 11, 2014 12:00 AM

Angola's oil production has fallen to 1.6 million b/d, oil minister Jose Maria Botelho de Vasconcelos said, making it increasingly unlikely that Africa's second-biggest producer will reach its output target of 2 million b/d next year.

Vasconcelos blamed the country's declining output on lengthy maintenance issues and supply disruptions at some of its fields. Rapid reservoir depletion has also resulted in steep decline rates at some developments, the minister said on.

Oil production has averaged 1.65 million b/d in the last six months and has been declining month on month since November.

Despite the problems, Angola has several oil projects scheduled to start producing in the next five years. Total's Clov development in block 17 is expected to start up soon before peaking at 160,000 b/d in the last quarter in 2014, the minister said.

Eni forecasts that its Western Hub project, which would be the first production in the Italian major's operated block 15/06, will start in 2014 and peak at 80,000 b/d, while Chevron is hoping to pump 110,000 b/d next year from the $5.6 billion Mafumeira Sul development.

The minister also said that Angola LNG's Soyo plant will remain offline until next year to allow its contractor, Bechtel, to initiate repairs and increase capacity at the plant.

The plant has been shut since mid-April because of technical problems at the 5.2 million mt/year facility. Shareholders in the project are Chevron (36.4%), Sonangol (22.8%), BP (13.6%), Eni (13.6%), and Total (13.6%).

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.


The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


Upcoming Conferences
« June 2019 »
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Register to announce Your Event

View All Events