Analysts see Angola poised to ramp up oil production

08/18/2003
As a result of recent discoveries in its deep and ultradeep waters, Angola is poised to jump its oil production to 2 million b/d by 2007, said analysts at Merrill Lynch & Co. Inc.Deepwater projects currently under development, coupled with others "to be tendered in the near future," could "more than double" Angola's production capacity to 2 million b/d by 2007-08, up from about 900,000 b/d today. "Given the recent ultradeepwater successes and [drilling] success rate to date in this area, we believe that there could be potential for Angola to exceed 2.5 million b/d by 2010," Merrill Lynch analysts reported recently.Conservation policy Recent ultradeepwater discoveries off Angola could ...
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