africa Angola Energy Gas oil

Angola’s ANPG outlines strategy to counter decline in crude production

The National Oil and Gas Agency (ANPG) has drafted a strategic plan of short, medium and long terms to counter the decline being recorded in the country’s crude oil production, which currently stands at 1.4 million barrels per day.

At short term, the ANPG is to tackle the issue of non planned stoppage due to malfunctioning of equipment.

According to the Chairman of the ANPG, Paulino Jerónimo, who spoke at the 2nd edition of the America-Angola Chamber of Commerce (Amcham)’s Business Forum, non planned stoppages have been consuming 10% to 15% of the crude oil production in Angola.

Paulino Jerónimo, who delivered a communication on “The Challenges and Opportunities of the Oil Industry”, exemplified that in May this year Angola produced 1.415,000 barrels a day, an amount that the country stopped producing due to the mentioned stoppages.

“Such issue must be tackled by improving preventive servicing, in spite of the effects of the fall in crude oil barrel price (in the international market)”, explained the source.

The agency also intends to engage in oil production in existing mature fields, since exploration works are not yet taking place in many of the already drilled wells.

Paulino Jerónimo also revealed that in the year 2020 many new wells will be drilled, which bring about the prospect of increased oil production by then.

“If within two or three years we manage to put into operation all the projects, we’ll have between 30 to 40 projects just related to marginal discoveries”, the ANPG C.E.O explained.

Source: Angop

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