Wednesday, Manuel Vicente, chairman of the oil company Songangol indicated that Angola would reduce the volume extracted in 2009, the latter amounting to date to about 2 mb / d in 2008.
We now expect 2009 production of 1656 mb / d, has said Vicente. While adding that the Songangol net income was $ 2.9 billion in 2008, up 30% compared to 'last year. This will enable the company to pursue its plans for a new refinery and development of its investments in Portugal, particularly in the Millennium Bank, which it already holds 10%.
If in 2008, Angola was competing with Nigeria to climb on the podium as the first oil producer in Africa, with production reaching a range between 1.9 to 2 mb / d, OPEC now seems somewhat slow its impulses. It remains to be seen however, whether such decisions are not also "justified" by an eventual decline in oil reserves in the country. And / or a necessary rise in the price of a barrel to finance exploration work more expensive ...
Remember, the country's recoverable reserves are estimated at 9 Gb (gigabarils), not counting the ultra-deep offshore not yet rated. Gas reserves are estimated at 300 billion m3 (BCM), for the moment. Oil companies rely on a production of 3 to 4 million b / d from 2015.
In late January, Angola had indicated that he would convene an extraordinary meeting of cartel if crude prices fell below $ 40 a barrel. The OPEC is scheduled to meet in March but it is "possible" that its members must work together earlier, had said the minister of oil.
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