Chevron’s Angola output is expected to reach 580,000 barrels a day in 2010, an 8.4% increase from recent levels, a company manager said, in a development that could help boost the company’s output after it dropped its long-term production target.
“We are targeting 580,000 barrels a day in 2010” compared with about 535,000 barrels a day in November, John Baltz, Chevron’s Southern Africa production manager told Dow Jones Newswires last week during a visit to the company’s Angola operations.
This estimate for Block 0 and Block 14 operated by the company offshore Angola “can vary depending on maintenance and other factors,” he said.
This included the ramping up of Tombua-Landana, the latest offshore platform to come onstream in September. The platform’s superintendent, Wayland Christensen, said output from the facility is due to reach 30,000 barrels a day in January from 17,000 barrels a day currently.
Production is due to peak, around end-2011 or early 2012, at 100,000 barrels a day, he said.
The Mafumeira Norte Field, which started up in July, is currently producing 30,000 barrels a day, ramping up to its target of 35,000 barrels a day, Baltz said.
In March, the San Ramon, Calif.-based company had to drop its oil and gas production forecast of a compound annual growth rate of 3% between 2005 and 2010, as lower oil prices bit into its investment plans.