Africa Angola Commodities Oil

BP production in Angola is in decline since 2017

The BP group’s oil production in Angola fell to 115,000 barrels per day in 2019, after standing at 147,000 and 192,000 barrels per day in 2018 and 2017, respectively, a drop of 21.7% on year and 40% in two years, according to the Energy Voice website.

“This decline suggests that the group’s production in Angola will be reduced this year to less than 100,000 barrels per day,” it said.

The website also reported that the British group is working on a range of projects in order to increase production in that country, but added that the results of this will not be visible this year.

Work on the Zinia 2 project, operated by French group Total, in Block 17, of which BP is part, started in 2018, and is expected to start producing oil in 2021, and the British group this year is due to start the Platina project as operator.

Zinia 2 is expected to produce 40,000 barrels of oil per day, and BP has not provided data on the production of Platina, estimated by Bernstein Research at around 60,000 barrels.

Energy Voice recalls that the BP group in late October 2019 associated itself to a new consortium set up in Angola by the National Oil, Natural Gas and Biofuels and five oil groups to explore natural gas, which aims primarily to provide additional quantities of gas to Angola LNG from 2023 onwards.

Figures published by the Organization of Petroleum Exporting Countries (OPEC) show that oil production in Angola was 1.634 million barrels per day in 2017, 1.505 million barrels per day in 2018 and 1.401 million barrels per day in 2019, a drop of 14.2% over two years.

Source: Macauhub

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