Contact Us   
Your Position: Home > News > Industry News

Angolan oil output at 1.79 mil b/d, to rise to 1.8 mil b/d in 2016: minister

2015/6/8      view:
Angolan oil production is currently averaging around 1.79 million b/d and is expected to rise only slightly to 1.8 million b/d in 2016, oil minister Jose Maria Botelho de Vasconcelos said Friday. 

Current output is slightly below the country's forecast for this year of 1.84 million b/d, while it looks likely that Angola will again miss its long-held target of 2 million b/d that the country hoped to achieve as soon as next year. 

"We are producing 1.79 million b/d [now], maybe next year [we will produce] 1.8 million b/d," Vasconcelos said ahead of a meeting of OPEC ministers in Vienna. 

Angola was expected to increase its crude production to 1.84 million b/d this year from an average 1.67 million b/d in 2014, according to the government budget for this year. 

Angola's government has been striving to maximize output levels, but has been struggling with technical problems at several of its fields in recent months. 

In April, Angolan output dropped by 70,000 b/d month on month to only 1.68 million b/d, largely due to problems at BP's Plutonio field, according to Platts' estimates. 

Supply of another Angolan grade, Saturno, has also been affected by power outages in recent months.