Angola: National Development Plan foresees maintenance of oil output, says Diamantino Azevedo

Angola's oil sector expects to maintain the levels of oil output in the country by keeping its 1, 49 million barrel/day in compliance with the 2018/2022 National Development Plan (PDN).

Speaking on the fringe of the second Consultative Council of the oil sector, the minister of Petroleum and Mineral Resources, Diamantino Azevedo, said that in order to maintain the balance of the oil output, a plan has been outlined for the auctioning of new oil exploitation blocks.

However, added the official, the Ministry of Petroleum is still to finish this year the strategic plan for the period 2019/2023 regarding the oil exploitation and auctioning of more blocks to be submitted and approved by the Angolan government in the coming months.

In the meantime, the official recognized that huge part of the oil fields are currently found on maturation phase, while others are on decay, thus some blocks are currently undergoing repairmen works, with view to maintain the balance of the country's crude oil exploitation and output.

With inputs from agency.