FILDA/2018: BP Angola invests USD 30 billion in oil

Luanda – BP Angola spent USD 30 billion over the last 20 years on prospection, research, exploration and development of oil fields in Angola.

The investments were made in blocks 18 and 31 (as operator) and blocks 15 and 17 (as shareholder of the contractor group) and in the Angola Liquefied Natural Gas (ALNG) project.

This is expressed in a note delivered to ANGOP Friday at the 34th Edition Luanda International Fair (FILDA / 2018), stressing that in the last 15 years, BP Angola produced more than 879 million barrels of oil.

With 773 Angolans employees, the firm spent USD 370 million on annual payments to suppliers, while another 100 million went to social investments (health, education, business development).

The operation manager of block 18 Tony Vueba put the current BP production in Angola at about 200,000 barrels in blocks 18 and 31, adding that the intention is to increase the production.

The initial decline stood at 16 to 20 percent, adding that by the end of 2017 and early 2018, the production drop by 30 percent.

At the end of 2016, BP Angola produced about 130,000 barrels of oil / day in Block 18, and about 160,000 in Block 31.

At present, the production in Block 18 is about 84,000 barrels / day and in Block 31, about 151,000 barrels / day.

Opened on Tuesday, the Fair is due to close on Saturday.

Source: Angola Press News Agency