What Angola can learn from Nigeria as it creates remarkable opportunities for marginal oil production
The Nigerian experience with marginal oil field development had measurable success, with 24 licenses awarded to 31 companies, some as sole operators and others as joint-ventures
With production declining and investment scarce, the Angolan leadership has put in place a number of new policies to reboot its oil industry and propel economic development. However, those changes take time and renewed deep-water oil and gas exploration for fresh reserves will take years to yield the desired results and stop the daily production crunch.
In the meantime, the government is targeting what it already knows exists, the country’s multiple deposits of what has been dubbed marginal oil fields, which will go on sale this year during the Angolan Marginal Field Bid Round.
Marginal fields are defined by ...