Angola’s exit from the Organization of Petroleum Exporting Countries (OPEC) will allow it to maintain the objective of increasing production and surpass the average value of 1.2 million barrels per day.
This view is expressed in a note attached to the study presented by Deloitte on this week.
Deloitte’s partner for the Energy, Resources and Industry Sector, Frederico Martins Correia, cited in the same document, reveals that in relation to the Angolan market, “the year 2024 should be one of consolidation”.
This scenario, according to Deloitte, promises to be a catalyst for the industry to focus even more on reducing emissions and economic performance.
Therefore, it ensures the fact that the National Oil, Gas and Biofuels Agency (ANPG) is guaranteeing key contracts for the sector in new “offshore”, “onshore” fields and marginal fields of current concessions.
As a result, the document highlights five trends highlighted in the study in question, which in the view of the consultancy’s analysts will play a crucial role in defining the strategies and priorities of oil and gas companies in 2024.
The first trend is related to the energy transition, where prudent capital allocation and effective execution of clean energy policies are expected; then critical minerals, which according to Deloitte, will have an active participation in the energy transition, ensuring a strategic position in the supply chain to face risks in the end market.
The third trend is global energy trade, which could be influenced by the interaction of OPEC and its partners in managing energy supplies and the current situation in the Middle East.
The fourth important factor is investment in technology, which through the implementation of generative Artificial Intelligence (AI) can promote innovative solutions and greater value creation.
Global vision
Global investment in hydrocarbons could reach $580 billion this year, representing an 11 percent increase compared to 2023, according to Deloitte’s “Oil & Gas Industry Outlook 2024” study, released Monday. .
The consultancy’s estimates point to more than US$800 billion in free cash flows during the current year.
