The oil production at the Lianzi field, as result from a shared agreement between Angola and Congo Brazzaville, dropped from 31,000b/d to 23,000b/d, informed Agência Angola Press.
The Angolan Oil Minister, José Maria Botelho de Vasconcelos, stated that despite this situation, the technical data presented does not allow to keep a level of production below 31 or 35,000 b/d. He added that this level of production was not expected, but the parties are working hard to reverse the trend of production.
In late 2015, Angola and the Republic of Congo-Brazzaville began deep water exploration of crude oil in the field close to the border between the two countries, an investment evaluated at $2b, Angola Today reported. The field covers an area of 700 sq.km, containing an estimated 70mb.
The two countries share with 50% each in the discovery. Moreover, A state body has been created to monitor whole project of the oilfields that cover the common borders, led by the two countries ministers of the sector. The Ministers of Oil of Angola and Hydrocarbons of Congo, as well as CEOs of the State-run oil firm Sonangol and the National Petroleum Enterprise of Congo SNPC, are members of Inter-State Management Body. The technical structure is made up of the staff from both countries with an executive secretariat based in Point Noire.