Luanda – Angola’s National Oil Company (Sonangol) and its associates drilled 29 oil wells in 2008.

This was said Monday in Luanda by the head of Sonangol’s Department of Exploration, Severino Cardoso.

 
The official who was speaking at the seminar on oil contracts, recalled that Angola has a capacity to produce two million barrels a day, but is currently producing 1.6 million.

This, he added, is due to restrictions agreed upon under the Organisation of Petroleum Producing and Exporting Countries (OPEC) of which the country is a member, as a measure to deal with the world ongoing economic and financial crisis.

 
Severino Cardoso also said that Angola’s whole 1.6 million barrels production comes from the Congo basin alone, speaking of need for a policy of diversified sources.

According to the official, the national company will in coming years invest in the identification of the huge reserves of the Kwanza onshore and offshore basin and on the standardisation of data on wells distribution.

However, he spoke of the possibility of a drop in oil outputs in coming years, having recommended investments in new resources, new technologies and training of Angolan personnel.

 
Engineer Severino Cardoso said Angola has a “bright future”, but needs investments in research into more basins, with a view to the exploration of new resources as, he added, the 10 existing basins, with exception for the Kwanza one, are not producing.

 
The Association of African Petroleum Producing Countries (APPA) sponsoring the seminar is seeking a coordination of policies among the members, with a view to a better management of their resources, and studies for technical assistance.

APPA is currently carrying out its seventh action programme for the 2008/2011, which includes training of local personnel, development of the gas industry, aiming at the reduction of the energetic deficit and control of the contract and fiscal framework.

The two-day seminar aims at a comparative study of APPA member countries oil contracts and will be attended by all oil companies operating in Angola, national oil private firms, international consultants and experts from APPA’s 16 member countries.

APPA groups Angola, Algeria, South Africa, Democratic Republic of Congo, Congo Brazzaville, Benin, Cameroon, Cote D'Ivoire, Egypt, Gabon, Equatorial Guinea, Libya, Nigeria, Tchad, Mauritania and Sudan.

The Democratic Republic of Congo is currently chairing the organisation for a year long term, with Cote D'Ivoire as deputy.