Crude oil production in new Opec member Angola is expected to increase 43% to 2 million barrels per day by next year, the US government's energy forecasting agency said. Angola is already the second-biggest oil producer in sub-Saharan Africa, after Nigeria. The country's output is pegged at 1.4 million bpd and it has 8 billion barrels in total proven oil reserves. Angola's oil output should climb to 2 million bpd in 2008, when new deep-water production sites come online, the US Energy Information Administration (EIA) said in a new update on the country's energy sector. Angola's oil output was expected to peak in 2011 at 2.6 million bpd and then start to decline if no new oil discoveries are made, the EIA said. With Angola consuming a very small amount of its oil, about 62,000 barrels a day, most of the country's crude is exported, with China and the US its biggest customers. Angola is the seventh-largest foreign oil supplier to the US market. Angola became the 12th member of Opec this month and the country's future output could be restricted by Opec production quotas, the EIA said. Angola pays an annual $2 million fee to be part of the oil producer group, Reuters reported.
22:11 GMT, 25 January 2007 last updated: 00:38 GMT, 26 January 2007 (Upstreamonline)
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