Angola revives capacity ambitions

摘要

Angola is revisiting bold long-term capacity targets as oil firms step up development of its sub-salt Kwanza basin. Initial sub-salt oil finds by US independent Cobalt International and Denmark's Maersk Oil in offshore Kwanza blocks that were awarded in December have accelerated drilling plans for Angola's new basin (WPA, 26 December, p4). And state-owned Sonangol is preparing a potential licensing round for up to 23 Kwanza basin onshore blocks to help spur development. Economic planning minister and former Sonangol chief executive Manuel Vicente sees the Kwanza basin driving Angola's plan to expand upstream capacity to 3.5mn b/d in 2020 from a current 2mn b/d.