IOC partners maintain existing Angolan operations but invest less


Issue 352 - 11 Aug 2017 | 2 minute read
Among those counting on the incoming government maintaining stability are the international oil companies (IOCs) that have made Angola Africa’s leading oil exporter. IOCs produced 96.7% of the total average 1.72m b/d output in 2016, according to Sonangol’s 2016 annual report. French major Total’s large holding of operated blocks gave its assets by far the biggest overall production, 229.36m bbls out of a total 630.11m bbls of crude oil output last year, which was 3% lower than in 2015.

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