Angola’s crude oil production has declined almost 30% in just six years, according to GlobalData.
Angola’s crude oil production has declined almost 30% in just six years, from 1.7 MMb/d in 2015 to just shy of 1.2 MMb/d in 2021, according to GlobalData. It now expects further decline for the country through to 2025, which is forecast to see about 1.1 MMb/d – despite the multiple expansion projects that are due to come online in the future. However, Angola may see a bit of relief in that marketed gas is at a record high. Production has been growing at Angola’s LNG plant, which came online in 2013 and is supplied by associated gas. In 2021, marketed gas in Angola reached a new high of 720 MMcf/d, according to oil and gas analyst Conor Ward.
