Fast drop in Angola output

摘要

ANGOLA'S oil production fell more quickly than expected last year, placing increased emphasis on plans by state-owned Sonangol to quickly turn around the country's upstream fortunes, writes Iain Esau. Oil production averaged 1.478 million barrels per day, a 9% fall on the 1.632 million bpd average for 2017 and significantly down on the 1.6 million bpd volume Sonangol forecast one year ago. However, reflecting an important pick-up in exploration activity, three wildcats were drilled in 2018 compared to none in 2017, resulting in two discoveries, including Eni's Kalimba and Afoxe in Block 15/06