Angola Targets 2MMBOPD In 2014

Angola is still struggling to make it to 2 Million barrels of oil per day and stay there, contrary to decades-old predictions of the energy press. The country’s petroleum officials have admitted that they are hoping to get to the magical number in 2014. Angola’s current output is 1.8MMBOPD, which is just 200,000BOPD short, but declining
volumes from mature fields and production stoppages for maintenance, even in new deepwater fields, have capped the output.
Jose Maria Botelho de Vasconcelos, the Minister for Oil told Jornal de Angola that the extra outputwill come from new fields starting up between 2013 and 2015.
Angola produced 500 million barrels of oil and exported 231 million barrels for which it received $25.6 billion dollars, in the first nine months of 2011, he said. This was somewhat lower than expected.