Africa-Press – Angola. The multinational TotalEnergies expects to stop, as of February 20, this year, production at the Dália oil field, located in Block 17, offshore Angola, due to the need to carry out planned maintenance for more than a month.
According to a publication by the national consultancy in oil, gas and renewable energies, PetroAngola, the maintenance is expected to last 35 days, which will cause a significant reduction in the supply of Angolan oil on the international market.
The field currently produces 200,000 barrels of oil a day (KBPD).
Calculations compiled by press based on PetroAngola’s publication, the country will stop sending seven million barrels of oil in the period of 35 days.
In terms of gross revenue based on 75 US dollars per barrel, the reference price of the 2023 General State Budget, a loss of 525 million US dollars is expected.
Also according to the consultant, only 30 shipments, a number considered low, should leave Angola in March.
On the other hand, it is estimated that Angola may not even export any Dália oil, in March this year, because the field’s production will need to be closed to complete the works.
According to the French oil company, maintenance operations at the Dália field will include inspections of subsea equipment and lines, as well as work related to flare tips.
Production in Angola, an OPEC member, is already well below the production forecast in the OPEC+ agreement, even with the cuts that the alliance started in November 2022.
The latest data from Angola’s National Oil and Gas Agency reports that the country produced an average of 1,088 MBPD in December, about 4 KBPD above the 1,084 MBPD achieved in November.
Despite this slight increase Angola is still well below its production target under the OPEC+ agreement of 1,455 MBPD by December 2023 or until the coalition decides otherwise.
According to the consultant, the reduction in Angola’s supply will occur at a critical moment for the global oil market, shortly after the entry into force of the European Union’s ban on oil imports from Russia by sea.
Oil and diesel markets are bracing for a chaotic February after the EU’s ban on imports of refined Russian petroleum products takes effect on 5 February.
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