The Oil & Gas Year Angola 2012
The Year’s Focus in The Oil & Gas Year Angola 2012 is the Kizomba Satellites project, in Angola’s offshore block 15, which is expected to produce 100,000 barrels of oil per day in phase 1, and recover a total of 250 million barrels from the Mavacola and Clochas fields.
The election in August 2012 resulted in another term for President JoséEduardo dos Santos of the People’s Movement for the Liberation of Angola. The government has made great strides in cementing Angola’s diplomatic position on the African continent and it continues to draw foreign investment, especially from China and Brazil.
With a production of 1.75 million barrels of oil per day in 2011, the country is now the second-largest producer of petroleum in Africa. However, given Angola’s pre-salt discoveries and brownfield developments, it is increasingly likely the country will eventually surpass Nigeria’s daily production. The interviews and analysis in The Oil & Gas Year Angola 2012 conclude that Angola’s plan to double its oil output by 2020 is a modest goal.