Angola has proven oil reserves of 11.4 billion barrels

Angola has proven oil reserves of 11.4 billion barrels, the same as Brazil and Algeria, Angolan newspaper Agora reported citing consultancy Woog MacKenzie.

With headquarters in Edinburgh, the company projects that Angola will produce 1.6 million barrels of oil per day by 2011, a level of production equivalent to that of Kuwait.

The oil discoveries made over the last 30 years along the Angolan coast have increased production ten-fold from the 150,000 barrels per day in 1975 to a current level of some 1.5 million barrels per day.

Macauhub