Angolan oil supply, at first largely from the shallow
waters off the coast of Cabinda, would have peaked in the late 1990s if
it hadnít been for huge deepwater potential recognised in the mid-1990s.
This has led to a big expansion in oil output and continued growth is
forecast up to 2016/2017 after a brief decline in 2009 because of OPEC
Deepwater production commenced in 1997 with the Kuito field, followed in
2001 by the giant Girassol field.
Associated gas production has been flared or re-injected but a planned
new LNG plant due onstream in 2012 will lead to growing marketed
Angola joined OPEC in early 2007.
The foreign revenue derived from oil exports has allowed
Angola to develop rapidly. Oil consumption, mostly used in automobiles,
has increased and will continue to increase throughout the next decade.
Angola uses little gas but growing output will allow the country to
expand its electricity generation and its industrial and residential gas
infrastructure. This growth will increase as exports of LNG begin.