Angola set to ramp up offshore developments, EIA says
Angola is set for significant expansion of offshore oil and gas developments in the short- and medium-term, according to a recent country briefing by the U.S. Energy Information Administration (EIA).
Feb 8th, 2010
HOUSTON – Angola is set for significant expansion of offshore oil and gas developments in the short- and medium-term, according to a recent country briefing by the U.S. Energy Information Administration (EIA).
“Despite limitations imposed by OPEC, companies operating in Angola are on track to significantly ramp up their offshore developments in the short- and medium-term,” the EIA says in its latest update.
Angolan production capacity could peak at 2.5-3 MMb/d of oil by 2015 based on existing discoveries, the EIA says.
Angola formally entered OPEC in 2007 and hosted the group’s presidency in 2009. Oil and gas activity remains based largely offshore in Angola for both technical and political reasons (including a three-decade civil war that ended in 2002). Angola has since surpassed Nigeria as the leading oil producing country in West Africa, and that trend is likely to continue into the near future.
In December 2009, Angolan officials said total country reserve numbers could be as high as 13.1 Bbbl. That figure is well above the January 2010 proven oil reserves of 9.5 Bbbl, according to theOil and Gas Journal (OGJ).
Angola’s membership in OPEC has kept the country’s rate of growth in oil production below the rate of growth in oil production capacity, despite continued discoveries offshore and evident pressure to surpass OPEC limits.
For example, Angola maintained output at approximately 200,000 b/d below capacity, as a response to OPEC’s most recent production allocation (estimated between 1.52 MMb/d and 1.66 MMb/d), even though oil production was not curtailed to the full OPEC requirement, EIA says.
Major projects listed in the table below represent a combination of tie-ins to support existing developments and new developments under way
Angola’s Upcoming Oil Projects
Peak Production (total liquids)
Expected Start-up | Peak
Block 31 NE
Other Block 31
Other Block 32
a) Plutão, Saturno, Vênus and Marte
b) Platino, Chumbo, Cesio