Angola reforms bearing fruit, but new exploration drive overdue

摘要

London-Angola's revamp of its oil and gas regulatory regime is raising hopes of arresting the country's oil output decline, but a return to former heights is likely to be several years away at best, a top regulator told S&P Global Platts. In an interview in Florence, Italy, this week, Belarmino Chitangueleca, executive board member of the country's new regulator, the Agency for Oil, Gas and Biofuels, said the start of production from the Agogo deepwater oil field in January by Italy's Eni, nine months after its discovery, demonstrated the “quick-win opportunities” resulting from recent reforms.