Africa-Press – Angola. Angola produced a total volume of 33.707 million barrels of oil last November, with an increase of 3% compared to October of the current year.
The average daily production, in the month under review, was 1.124 million barrels of oil per day (MBPD), according to a monthly report by PetroAngola – a national oil, gas and renewable energy consultant.
The same document, mentions that, in October this year, crude production reached a volume of 32.591 million barrels.
It highlights, on the other hand, that Block 17, operated by TotalEnergies, maintains its “good performance”, with an average of 373,237 thousand barrels day (KBPD), positioning itself as the largest producer in the period under analysis, followed by Block 0 with an average production of 153,247 KBPD and in 3rd place Block 32 with a production of 143,637 KBPD.
In the reference period, Angolan grades were traded at a discount to Brent, due to the combination of the prices of the most highly valued grades on international markets, which reached an average value of 90.56 dollars (USD) per barrel of oil/BBL, being negotiated at USD 0.46/BBL below Brent.
According to the consultant, benchmark oil prices pared gains as Covid-19 cases in China surged closer to their pandemic highs.
Oil barrel prices on international markets recorded a slight decline during the month of November.
Brent, the benchmark for Angolan raw materials, was traded at an average of USD 91.03/BBL, a reduction of USD 1.94/BBL in relation to the monthly average reached in October, when an average monthly price of USD 92.96/BBL was recorded. .
Most valued branch of Cabinda
The Angolan variety “Cabinda” was the best valued, having reached the highest price of USD 99.62 per barrel of oil (BBL) and a monthly average of USD 92.31/BBL, followed by Girassol which occupied the 2nd place with a monthly average of USD 91.12/BBL and the highest price of USD 100.64/BBL, according to the PetroAngola report.
The Dália vine, in turn, was the 3rd best valued obtaining a monthly average of USD 89.60/BBL and the highest price of USD 96.22/BBL, and, lastly, follows the Nemba vine, which reached the highest price of USD 95.92/BBL, ending the month with an average price of USD 89.22/BBL.
Advancement in gas production
Also according to the PetroAngola document, the production of associated gas stood at 80.671 million standard cubic feet (MMSCF) in November, amounting to an average of 2.689 MMSCFD, representing an increase of 17% compared to the month previous October, in which a total of 69,140 MMSCF were produced.
Of the total volume of gas produced, 44% was injected, 7% made available for energy generation at oil facilities, 16% exported to the Angola LNG plant, 3% for flaring and the remaining 30% was used in gas lift operations (GL), one of the best known methods for the artificial elevation of fluids.
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