Angola’s oil production to rise to 2 mm bpd by 2008

Angola's oil production may rise to 2 mm bpd by the year 2008, from the current 950,000, the deputy chairman of the State-run "Sonangol Holding" managing board, Syanga Abilio, said.
Sianga Abilio said this at the Consultative Council of the Ministry of Industry, held in Benguela, while addressing on the topic "Angola -- Oil sector contribution to the Industry and Services." According to him, the doubling of oil production, which constitutes the source of 80 % of country's incomes, requires great funding for the execution of operations related to projects drafted by the sector.

The source recalled that the increase in production represents a growth of 25 % and considered as a demand that higher refinancing levels are reached. Currently, Angola refines 40.000 bpd.
He said on the occasion that the interaction between the oil and industrial sectors once well explored, significantly contributes to the sustainable development of the country.
"There is need that oil, being a non-renewable energetic resource, serves to support the national economy, creating in the forthcoming times several benefits for the Angolan population," he stressed.

Under the motto "Relaunch of the National Industry, Challenges and Opportunities", the gathering had the participation of the Provincial Governor, Dumilde das Chagas Rangel.
Facilitating the meeting was the Deputy Minister of Oil, Anibal Silva.