Industry poised to boost production on Angola/Cabinda acreage
Journal Article
·
· Oil and Gas Journal; (United States)
OSTI ID:5890610
This paper reports that development spending off Angola will peak at $750 million/year in 1993 and 1994 as operators start to implement plans to boost oil to 680,000 b/d in 1996 from 505,000 b/d last year. And during the next 9 years, upstream spending will jump to $4.7 billion at 1992 prices, compared with $3.3 billion spent in the past 9 years, says County NatWest WoodMac. Angolan exploration and appraisal drilling this year will slip from the 1991 record level of 36 wells to about 33 wells. The decline will be eased by first wells drilled on newly awarded Blocks 4, 6, and 7 operated by units of Ranger Oil Ltd., Conoco Inc., and Ste. Nationale Elf Aquitaine. As exploration drops in more mature areas, activity will shift to frontier regions. As a result, drilling activity in the mid-1990s will be at least as high as the record levels of 1991, WoodMac predicts.
- OSTI ID:
- 5890610
- Journal Information:
- Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:6; ISSN OIGJA; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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