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Home >> Business
UPDATED: 16:48, January 06, 2006
Angola's oil production hits 1.3 million barrels daily in 2005
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Angola's petroleum minister has disclosed that the country's oil production in 2005 reached 1.3 million barrels daily with the coming on stream of the Kizomba-B development in offshore block 15, local media reported on Friday.

Desiderio Costa, giving an appraisal of oil sector developments in 2005 to representatives from energy companies operating in Angola, said 22 new wells were drilled in 2005.

Kizomba-B is now pumping 200,000 barrels per day, the minister was quoted as saying.

Of five new wells being developed, four lie in ultra-deepwater block 31, operated by British Petroleum with a 26.6 percent stake. Esso Exploration and Production Angola (25 percent), Sonangol (20 percent) and Statoil (13 percent) are the other main stakeholders in the venture.

Desiderio Costa underscored to oil company executives the importance of the onset of gas production from oil platforms in block 0, which reduces pollution caused by burn-off and prevents wastage of an "important resource."

Angola is the second-biggest oil producer after Nigeria in sub- Saharan Africa.

Source: Xinhua

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