Angola's oil production to reach highest level in 2011

Angola's oil production will reach the highest level in 2011 at 2.6 million barrels daily, with discoveries of new fields in deep and ultra-deep waters, a World Bank report on the country's economy predicted.

Currently the country produces 1.6 million barrels daily, according to the report available here Monday.

Oil reservoirs at superficial waters, mainly in the northern Cabinda province, which represent over 50 percent of the current production, have reached their final stages, with the deep and ultra-deep waters being the possible future of the sector, it said.

It said that the increase in production may occur if discoveries in the Blocks 31 and 32 of ultra-deep waters start producing soon.

However, the report forecast a low production in 2020.

Source: Xinhua