africa Angola Economy Energy export Gas Infrastructure Natural Resources oil Trade

Angola’s Sonangol records domestic production growth

State-owned Oil Company Sonangol recorded in 2015 an increase in domestic production of about 1. 8 million barrels per day.

This is expressed in a press note reached Angop Friday.

The document referred to the report and consolidated accounts of 2015, stating that the increase in production is the result of the coming into operation of the new oil fields.

Among the oil fields, the sources mentioned those in Lianzi in block 14, Satellites – Kizomba II in block 15 and MPP Rosa and Dalia 1A in block 17.

On the other hand, the good operating performance in the blocks 17, 18 and 31 also contributed to the increase in production, the note added.

sonangol

The press release states that due to the fall of oil prices, the sales volume decreased by 35 percent compared to those of 2014, that reached 2.1 million kwanzas.

The note also said that net results dropped from 139 billion kwanzas in 2014 to 47 billion in 2015, representing a decrease of 66 percent.

In 2015, the company’s equity increased to 2,5 billion Kwanzas, representing a growth of 18 percent.

With regard to human resources, Sonangol ended the year with 8,279 staff, representing a decrease of 2 percent compared to 2014.

Source: Angop

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