Angola plans to keep producing 1.1 million barrels of crude oil per day (bpd) throughout next year, a government official said on Thursday, even as the nation attempts to stabilize dropping output from older areas.
Angola will reveal the successful bidders for its most recent onshore licensing cycle by March, according to Belarmino Chitangueleca, executive director at the National Agency of Petroleum, Gas, and Biofuels (ANPG), in an interview with Reuters.
Since reaching a peak of 2 million bpd in 2008, the output of Africa’s second-largest crude oil exporter has been progressively declining. To somewhat offset the decrease, it seeks to diversify more into the gas industry.
Chitangueleca stated that the nation may set up a second LNG train, which transforms natural gas into a super-cooled liquid and processes it, to export more gas, but he did not specify a timetable for doing so.
We’ll have enough gas, I’m confident, to support adding a second train, Chitangueleca remarked. “We will capitalise on this opportunity.”