FILDA / 2018: Drop in crude oil production to be mitigated with new fields

Luanda – The current decline in oil production in Angola can be mitigated by the start-up of new oil fields.

ExxonMobil, in Angola since 1994, is already working with the state owned oil company, Sonangol, to optimize production, with the implementation of new projects within the scope of available exploration opportunities, which can help to reverse the current framework.

ExxonMobil reported a decline in its production in Angola by 15% / year, according to its public relations director, Armando Afonso, who spoke to ANGOP on the last but two day of the 34th edition of the International Trade Fair of Luanda (FILDA / 2018).

“We are experiencing a decline that is natural and can be softened with the entry of new production fields, even from the existing fields,” he said.

Of the existing fields, he pointed to Block 15, where areas have already been identified that cover a whole set of facilities that are currently in operation, whether Kizomba A, Kizomba B and others.

ExxonMobil recorded its peak production in 2007, a period that produced 720,000 barrels of oil / day .

Currently, the operator’s production levels are 240,000 barrels of oil / day, a significant reduction due to a natural production cycle of decline, especially in the country’s deep waters.

Expenditures on contracts with local suppliers increased from 28% in 2015 to 46% in 2017.

Source: Angola Press News Agency

FILDA / 2018: Drop in crude oil production to be mitigated with new fields

Luanda – The current decline in oil production in Angola can be mitigated by the start-up of new oil fields.

ExxonMobil, in Angola since 1994, is already working with the state owned oil company, Sonangol, to optimize production, with the implementation of new projects within the scope of available exploration opportunities, which can help to reverse the current framework.

ExxonMobil reported a decline in its production in Angola by 15% / year, according to its public relations director, Armando Afonso, who spoke to ANGOP on the last but two day of the 34th edition of the International Trade Fair of Luanda (FILDA / 2018).

“We are experiencing a decline that is natural and can be softened with the entry of new production fields, even from the existing fields,” he said.

Of the existing fields, he pointed to Block 15, where areas have already been identified that cover a whole set of facilities that are currently in operation, whether Kizomba A, Kizomba B and others.

ExxonMobil recorded its peak production in 2007, a period that produced 720,000 barrels of oil / day .

Currently, the operator’s production levels are 240,000 barrels of oil / day, a significant reduction due to a natural production cycle of decline, especially in the country’s deep waters.

Expenditures on contracts with local suppliers increased from 28% in 2015 to 46% in 2017.

Source: Angola Press News Agency