Angola’s Oil Output To Increase

VENTURES AFRICA – Angola, which has emerged as Africa’s second-largest oil producer, would raise its oil output slightly next year, thanks to three oil exploration projects to be kick-started soon, it was reported on Thursday.

Angola’s oil sector is back up to up to speed after a fall in output in 2011 boosted by the start of Total’s Pazflor and ExxonMobil’s Kizomba D Satellites with a further lift expected when BP’s ultra-deep-water PSVM comes on stream with an expected 150.000 bpd.

But Jose de Vasconcelos, the country’s oil minister, said it was unlikely the output would reach a target of 2 million barrels per day.

He told Reuters on the sidelines of an OPEC meeting in Vienna that Angola LNG would start exports of liquefied natural gas (LNG) in the first quarter of 2013, later than expected.

“Maybe 1.8 million to 1.85 million bpd,” Vasconcelos said. “We have some operational problems, maintenance. To achieve 2 million we need to work more and more. I don’t believe we’ll achieve this target next year.”