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36

Angloa to Increase Its Oil Output

Angola's current oil production of 1.1 million barrels a day is expected to rise to two million in 2010

Angola's current oil production of 1.1 million barrels a day is expected to rise to two million in 2010, said an official of a US-based company on Tuesday.

Speaking to local media alongside the workshop on "BP and Partners," Andrew Hayman, director for Africa and Middle East of International Energy Company (IHS), said Angola will become a great supplier of petroleum to such countries as the United States and China in the coming 25 years.

Hayman said his estimates are based on data he got from Angolan Oil Company (SONANGOL) and multinational firms that operate in thecountry, added to research carried out by his company.

According to him, Angola, as compared with other crude oil producers on the continent, enjoys a privileged position, thanks to its significant commercial findings.

He stated that in 2004, Africa produced an average 9.3 million barrels of oil a day, a figure that, however, might rise, taking into account that new countries are entering the producers club.

He also explained that IHS provides consultancy services for SONANGOL and assists it with the process of concession of new exploration licenses.

Angola is the second major petroleum producer south of Sahara, after Nigeria, with a production of 1.1 million barrels a day.