Angola National Oil, Gas and Biofuels Agency (ANPG) has announced that 43 oil wells are planned to be drilled in 2024, six more wells compared to the 37 wells drilled in 2023.
The agency lamented that the country is currently producing 1.1Million barrels daily, “quantities that would reach 1.2 million barrels of oil per day, if it weren’t for the daily losses of 90 thousand barrels of oil.
“In the last five years, the country recorded unplanned production losses of around 170Million barrels of oil, due to the aging of most of the concessions, designed to operate between 15 and 20 years, some already having existed for over 60 years”, said ANPG production director, Ana Rosa Miala.
“And our large installations such as Girassol and Dália are already more than 20 years old and this means that the systems in these installations have more failures, the failures are more recurrent. Regular preventive maintenance is no longer enough to mitigate these failures, greater effort and investment are required”, she explained.
To mitigate the sharp decline in production the agency said, “bidding for new concessions was resumed, and incentives were created for the continuous stay of the country’s old investors and the entry of new ones.
Paulino Jerónimo, the outgoing president of the board of directors of ANPG, told the press that the five-year-old regulatory agency had essentially grown in a period of tumult. Two of ANPG’s five years in existence were marked by the COVID-19 pandemic, which constituted “a great challenge” for the agency.