2023, Angola Officially announced He left OPEC due to differences in opinions on the assignment of petroleum production, and ended his 16 -year stint in cartel. Angola, the second largest crude oil producer in Africa, became the fourth country to leave OPEC after Indonesia, Qatar and Ecuador left in 2009, 2019 and 2020.
The relationship between the South African country and OPEC was that OPEC gave the UN Green Light to the UN Country of the Arab and increased 200,000 barrels (BPD) per day to 3.2 million barrels per day, and came to mind. The quota has been reduced to 1.1 MB/. D, the decrease in national production and almost inline.
However, this movement did not work well with Angola.Our roles in the organization were not considered to be relevant. It was not a neglected decision -Time came, ” Diamantino Azed, Minister of Mineral Resources, has announced the withdrawal.
And now, the ExcalCittrance of Angola seems to be starting to be rewarded. Angola’s average daily oil production strike 134 million barrels in the first three quarters of 2024. 2023 It is suitable for an increase of 4 % compared to production. According to Angola Press Agency, the government’s stabilization measures have contributed to the increase in production and are due to the trial run and intervention of various new oil wells.
Fortunately, the country has also witnessed that the country is also increasing, combined with the discovery of both land and offshore petroleum and gas and the increase in search activities. A few weeks ago, Nigeria’s multinational energy company OANDO PLC Awarded Angola National Petroleum, Gas, Bio -fuel (ANPG) A block -cons 13 operator in Angola’s athletics Kwanza basin. Block Kon 13 is located in a multi -crop kwanza onshore basin with an estimated future resource of 770-1.1 billion petroleum. There is a 45 % participation rate of Ondo’s subsidiary Ondo energy resources We will lead the development of blocks as an operator Effimax (30 %) and Sonangol (15 %) As a joint venture.
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In September last year, exploration and production companies focusing on Pan Agora Brazil CORCEL announcement The contractor, METATEK GroupThe data phase of the enhanced tensor grio metries survey (“EFTG”) has been completed in the block KON-16. Corcel is operated and managed by the KON-16, a large (1000 square kilometer) block in the Kwanza basin on land.
Return to 2020, Exxon Mobil Corp. (NYSE: XOM), along with your partner I found hydrogen carbon in block 15 off Angola Expected customers in the southern part of Babuka. This was the 18th discovery of the block, but it was the first since 2003. According to Exonson, Valaris DS-9 The drillship excavated 1,100 m (3,608 feet) water of Bab Casaus 1 Bab Casaus 1, 365 km northwest from the coast of Luenda, and encountered sandstone, which contains high -quality hydrocarbons of 30 m (98 feet). Exxon has 36 % interest in blocks BP exploration Angora (twenty four%), Anian Gora Search (18 %), Equer Angora Block 15 (12 %) and SONANGOL P & P (10 %) partner.
Task on the uphill
Nevertheless, Angola is facing Hercules’s work, a bidding to return to his previous glory. The production of the country, which participated in OPEC in 2007, peaked at 1.88 MB/DA one year later and clocked at 1.66 million B/D. From there, the country’s production was slightly higher, dropping a little to 1.80 MB/D by 2015, and decreasing rapidly in the later years. Angora’s main challenge was that he could not attract sufficient investment in the aging deep -sea oil field. On the other hand, at first, the national oil sediment brought out the precautions and deep pockets of corporate major. BP PLC (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM), and Chevron Corp. (NYSE: CVX), its deep -sea field is faster than land fields. In front of the exit, Angola could not meet the OPEC production quota repeatedly. In addition, the tax system in the country also prevented investment, which was deteriorating when crude oil prices collapsed from 2014 to 2016.
Angola is also eager to avoid the so -called “curse of resources”, which afflicts African countries, which are rich in many resources. August Mozambique is officially Started export Liquefied natural gas (LNG) was delayed for many years, thanks to the extended RAMP corruption and political instability. Return to 2010 Anadarko Corp. (Current subsidiary OCCIDENTAL PETROLEUM CORP.) The Italian energy giant, Eni Spa, has announced the discovery of a natural gas reserved amount of approximately 180 trillion -footed feet, equivalent to about 29 billion barrels, in a super -huge offshore basin in Mozambique. As you might imagine, there was a stampedo due to oil and gas major. Exxonmobil (NYSE: XOM), Totalenergies,shell (NYSE: Shell),, With Eni Spa Chinese National Petroleum。 (NYSE: SNP) Come to bet on their claims.
However, the long tail of terrorism and “hidden loan” corruption scandal has just begun to establish a state -owned company that borrowed billions of dollars from the Bureau. Cast Paul In the economy, the investor’s trust has been hit.
Mozambique was suffering from a 16 -year civil war that ended in 1992, but the revived armed conflict is still a major issue. The root cause was underdeveloped and corrupt as usual. For more than five years, in Cabodelgadado, a notorious terrorist organization, which matches the Islamic state, has been attacking dozens of attacks. The rebellion killed more than 1,500 people and expelled 250,000 in the northern part of the country.
Thankfully, the country’s current outlook has been much more positive than for several decades, and Mozambique has been able to invest a big investment after President Felipe Newji sworns in 2020.
“”The completion of this international venture provides a stable, transparent and predictable environment for Mozambiqu This is a sign of market awareness. Transition, so it must bring pride in all Mozambikans, “President NYUSI said after the first shipment of gas under the long -term purchase with the British giant BP and sales contracts.
Angola is looking for Mozambique for several important lessons to start unlocking gas wealth, which has been evaluated for nearly $ 100 billion.
According to Alex Kimani of OULPRICE.com
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