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Angola Estimates Annual Production of 1.147 Million Barrels of Oil per Day in 2022

Angola Estimates Annual Production of 1.147 Million Barrels of Oil per Day in 2022

Angola estimates for 2022 an average annual production of 1.147 million barrels of oil per day, slightly above last year’s forecasts of 1.130 million barrels.

The estimates were advanced today by the president of the Board of Directors of the National Agency of Petroleum, Gas and Biofuels (ANPG), Paulino Jerónimo, who indicated that Angola has produced over 1.2 million barrels per day in the last 15 days, having produced an average of 1.173 million barrels since the beginning of the year.

The ANPG official was speaking in Luanda, during a meeting with journalists that marked the opening of the Mining Days, where the heads of the main government departments linked to oil, gas and mineral resources were present.

Asked about the financial proceeds from the sale of Sonangol’s stakes in eight blocks, whose winners were selected last week, the chairman of Angola’s state oil company, Sebastião Gaspar Martins said that the amount had not been finalised but that it should be above US$400,000.

The leader of Sonangol also admitted using a new strategy to move forward with the Lobito refinery project, although the Angolan government has yet to find a partner.

“At this moment we are seeing with which entities we will constitute the consortium and shareholder, but we have the intention of moving forward with the project, even if with initial funds from Sonangol. The decision has been made and this refinery will go ahead,” he assured.

Gaspar Martins also pointed out that the Russian conflict has an impact on Sonangol’s logistical process, especially in relation to the purchase of steel materials for the Cabinda refinery, currently under construction, which are being used in the war industry.

The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo highlighted, on the other hand, how Sonangol is adapting to the energy transition underlining that the Angolan oil company is already involved in solar energy projects (with the Italian multinational Eni and the French Total) and hydrogen projects, together with German companies.

Diamantino Azevedo made a balance of his almost five-year mandate at the head of this ministry, listing the main achievements in the oil and gas sector, as well as in mineral resources.

Angola, one of the world’s main producers of diamonds, has also started to explore the potential of other minerals such as lithium, nickel, zinc, niobium, tantalum and rare earth element minerals, used in the electric car industry.

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