The Angolan government has adopted a set of measures to reverse the declining trend of oil production, the Minister of Mineral Resources and OIl said in the city of Sumbe on Monday.
Diamantino Pedro Azevedo, who spoke in the city located in the province of Kwanza Sul at the 1st technical scientific days on the methodology of classification and calculations of solid mineral resources and hydrocarbons, said that these measures include the approval of five legal diplomas.
These diplomas, all focused on the need to ensure that oil production does not fall below 1.4 million barrels per day by the end of the 2018/2022 term of office, involve promotion of prospecting and exploration of some deposits that have already been discovered and administrative procedures to facilitate investment.
The minister, speaking about the mining sub-sector, said it was necessary to reorganise the diamond mining sector in the country, and called for most of the sector’s production be cut and polished in the country, thus enuring an increase in the value of the product.
The latest figures released by the Organization of Petroleum Exporting Countries (OPEC) show that Angola’s oil production increased by 57,000 barrels per day in September compared to August to a total of 1.519 million barrels per day. (source: macauhub)