Factbox: Angola plans surge in oil output

Mon Nov 9, 2009 10:41am EST

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(Reuters) - Angola's oil industry is booming as investment increases after the end of three decades of war and oil industry officials say crude oil production could increase by as much as two thirds over the next five years.

Following are some key facts about the country's oil industry and a brief overview of some major oil developments in the pipeline until 2015.

OIL RESERVES

* Angola has probable oil reserves of 13-19 billion barrels, analysts say, giving it the third largest hydrocarbon resources in Africa behind Libya with 40-45 billion barrels and Nigeria with reserves of 35-40 billion barrels. But a relatively stable political environment and increasing security are attracting billion of dollars of foreign investment and the rate of discovery of new oilfields is outpacing many of its rivals.

OIL PRODUCTION

* Angolan crude oil output exceeded 1.9 million barrels per day (bpd) in October when it briefly overtook Nigeria as Africa's largest oil producer and production has averaged just under 1.8 million bpd this year.

* Multinational oil companies Exxon Mobil Corp., Total SA, Chevron Corp, BP and Eni all have major projects coming on stream between 2011 and 2015 that could add up to 1.2 million bpd of new production.

* Based on existing projects, expected rates of decline of older oilfields, and even without new discoveries, these new developments would take oil production to between 2.5 million and 3 million bpd over the next five years.

NEW LICENSING ROUND

* A new round of bids for oil exploration and production licences will be held "in the near future," Angolan Oil Minister Botelho de Vasconcelos said on October 28. Manuel Vicente, the head of state-owned oil company Sonangol, told Reuters on September 10 a new oil bidding round should take place at the end of 2010.

* All the big upstream oil producing companies now in Angola are expected to participate in the next round; several operators, including Norwegian state-controlled oil company Statoil, have said they are keen to take part.

* Upstream oil analysts say the new round will almost certainly lead to a rash of fresh discoveries over the next few years, further increasing capacity.

EXXONMOBIL

* The biggest foreign oil producer in Angola is ExxonMobil, which has been developing two giant deepwater offshore oilfields in Block 15, Xikomba and Kizomba A, B and C. Operated by ExxonMobil, Block 15 is already pumping around 700,000 bpd but output is expected to increase to at least 800,000 bpd with the development of the Clochas and Mavacola discoveries, with estimated reserves of 254 million barrels of oil. These fields are set to start producing in 2012 with peak production of 140,000 bpd, industry sources say.

TOTAL

* Total SA is expected to increase its oil output in Angola by at least a third to at least 750,000 bpd by 2011, up from 530,000 bpd in 2008, and industry sources say its total output could reach almost 1 million bpd by 2015.

* A new crude oil production stream deep offshore called Pazflor is expected to pump up to 220,000 bpd by 2011. Pazflor covers four oilfields across a 600 sq km (232 sq mile) area about 140 km (87 miles) off the coast of Angola at depths of up to 1.2 km beneath the sea.

* Another offshore development, called CLOV, covers four large oilfields -- Cravo, Lirio, Orquidea and Violeta -- which could add an extra 160,000 bpd from 2015.

* Total has another new ultra-deep offshore development in Block 32, which analysts say could pump around 180,000 bpd by 2015.

CHEVRON

* Chevron has said it expects crude oil production from oilfields it operates in Angola to rise by a quarter to around 630,000 bpd by 2011 from 500,000 bpd in 2008. The extra production will mainly come from two new Chevron-operated oilfields in the $3.8 billion Tombua Landana project, which has recoverable reserves of around 350 million barrels:

* Mafumeira Norte produced its first crude oil in July and daily output is expected to reach 30,000 bpd by 2011 when the filed will also produce about 30 million cubic feet per day of natural gas.

* The Tombua and Landana oilfields began production in September and maximum total daily crude oil production of 100,000 bpd is expected by 2011.

ENI

* Italian energy giant Eni has made three significant new Angolan offshore oil discoveries in recent months, including one last month, which analysts say could be able to pump as much as 200,000 bpd. Angolan state-owned oil company Sonangol said on October 28 the deepwater discovery was made by operator Eni in the Cabaca Norte-1 well in Block 15/06.

BP

* BP has made no fewer than 19 separate oil discoveries in ultra-deep water Block 31, which it operates and is providing evidence of a huge reservoir of hydrocarbons with four major developments called Plutao, Saturno, Venus and Marte (PSVM). African oil analysts believe the oilfields should be producing from 2011 and say the daily average output could be at least 150,000 bpd.

(Reporting by Christopher Johnson and Joe Brock in London and Henrique Almeida in Luanda; editing by William Hardy)

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