Angola Oil Reserves: 12b Barrels

Angola Oil Reserves: 12b BarrelsAngola Oil Reserves: 12b Barrels

Proven and probable oil reserves in Angola are estimated at 12.667 billion barrels, following recent discoveries in shallow, deep and ultra deep waters, the country’s Oil minister said in Hamburg, reported. Speaking at the 7th German-African Energy Forum, which started Monday and finished the next day, Botelho de Vasconcelos said one of the priorities for the 2013/2017 period was to maintain a balance between reserves and production by auctioning blocks and making use of new exploration and production technologies.