3.1: Exploration & Production
Boost exploration and production (E&P). Other Information:
The investment in upstream is intended at increasing production to meet domestic demand. In the past decade in Angola we significantly
increased crude production from 1 million bpd (barrel per day) to 2 million bpd em, goal reached in 2008. Though having worked
in oil exploration over the past 10 years, Group Sonangol stills considers itself a novice oil operator, nevertheless our
partnerships with leading oil companies have provided the exchange of experience and expertise required for us to take on
more ambitious projects. Thus from operator in shallow waters (on Block 3), since 2003 Sonangol is also an operator in ultra-deep
waters (on Block 34); a move done with the purpose of increasing total production from 12,000 bpd to 200,000 bpd by 2009.
The total sum of bpd will mainly be from oil concessions in Angola, while the remainder will come from international E&P ventures.
Indicator(s):
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