The President of the National Agency for Oil, Gas, and Biofuels (ANPG), Paulino Jerónimo, appealed on Thursday in Luanda for oil companies to continue investing in the Oil and Gas sector to increase production levels so that the country can surpass the current levels evaluated at one million and 100 barrels per day.
The CEO of ANPG, who spoke at the closing of the Sustainability Forum in the Petroleum sector, part of the Oil and Gas sector day’s program, recalled that in 2017, the daily oil production estimates for 2023 were projected at 500,000 barrels, but the country is currently producing one million and 100 barrels of oil per day this year. “This growth is a result of the investments that companies have been making in the sector,” he noted.
Paulino Jerónimo said that, at this moment, the country has a competitive advantage over other African states in oil production. “Angola has infrastructure, mature fields, and adequate facilities, so we need to take advantage of this competitive advantage that Namibia, South Africa, and Mozambique still do not have,” he said.
The manager stated that the oil companies operating in the country should aim for producing more oil than expected.
“Most of the mature fields represent 80 percent in favor of the state and 20 percent in favor of the companies. However, due to tax payments, companies end up with 10 percent, and the government with 90 percent,” he said, emphasizing that in order for the companies not to feel this discomfort, they should produce beyond expectations to avoid being disadvantaged.
Sustainability program
Paulino Jerónimo emphasized that the sustainability program is not an imposition from ANPG, but companies should be aware that the environment must be protected to have production with fewer emissions.
Oil companies invest in sustainability projects
The sustainability advisor of ExxonMobil, Irina Espuma, stated that the American oil company has been working on sustainability programs for 20 years, which has made oil production operations safer.
“We have been using the best sustainability practices in the country. We support Angolan families in various social programs in the health sector, particularly in the fight against malaria,” she said.
Azule Energy, with a capacity to produce more than 200,000 barrels of oil per day, has an ambitious sustainability program.
The oil company has been focusing on the safety of its employees, external contractors, and stakeholders.
Azule Energy is committed to preserving the environment and promoting carbon neutrality. The company is also dedicated to promoting sustainable development in communities within the country, following the Government’s development plans and the United Nations’ sustainable development goals.
Chevron, which has been operating in Angola for over 60 years through its subsidiary Cabinda Gulf Oil Company, has invested over 240 million dollars in social projects in Angola as part of their sustainability efforts.
In 2022, Chevron produced 70,000 barrels of liquid oil and 259 million cubic feet of natural gas
