STATE-OWNED SONANGOL MEETS OIL COMPANIES TO FIND WAYS TO BOOST ANGOLAN OIL PRODUCTION

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Angola's State-owned oil company, Sonangol, says it has met foreign oil companies operatig in the country to discuss ways of finding the best solutions to counter the continuing decline in crude oil production in the country, the second leading producer in sub-Saharan Africa after Nigeria.

Sonangol says the meeting was held on Tuesday and was chaired by its chief executive officer, Carlos Saturnino, and began with a presentation of the historical evolution of oil production in Angola.

The oil companies operating in Angola were encouraged to lay out ideas and projects to be implemented to tackle the oil production downturn.

The meeting also analysed the main factors affecting production in the present context and put future actions into perspective.

Angola's oil production had been hovering around two million barrels per day but no statistics were provided regarding current output levels.

Source: NAM NEWS NETWORK