POST-OPEC ANGOLA: THE QUOTA’S GONE, THE DECLINE ISN’T
https://media.zenfs.com/en/oilprice.com/496e75cbdaf95e6e8144314f84eb2863
✍️ Angola's decision to leave OPEC in 2023 did not lead to a resurgence in oil production, as the country's producing wells are running out of oil due to geological decline.
👉 Angola's oil production has remained flat since leaving OPEC 👉 The country's oil fields are old and mature, with only a few remaining below 70% maturity 👉 The government has cut royalties and improved the fiscal environment to attract new investment 👉 The focus is on re-tapping overlooked assets and prolonging the lives of existing fields rather than making new discoveries 👉 The country's downstream side is underdeveloped, with only one functioning refinery
-- #Angola #OPEC #Alaska #Luanda #Kizomba #Block15 #Block32 #Block33 #LowerCongo #KwanzaBasins #Cabinda #Lobito #Soyo #energy
Loading quoted post…
