Ver Angola


Total and ANPG sign investment in the Kwanza Basin valued at six billion dollars

This Monday, the national oil and gas concessionaire signed with the French company Total the final decision to invest in two fields in Block 20/11 of the Kwanza Basin, worth six billion dollars.

: Facebook TotalEnergies
Facebook TotalEnergies  

The development of the two fields – Cameia and Golfinho – are part of the Kaminho project, budgeted at six billion dollars (5.52 billion euros), involving the conversion of a VLCC (Very Large Crude Carrier) class tanker into Production, Storage and Offloading Unit (FPSO), connected to a subsea production network.

"The project foresees more than 10 million hours of work in Angola, mainly in offshore operations and construction activities in local shipyards", according to a statement from the National Petroleum, Gas and Biofuels Agency (ANPG).

This FPSO was designed to minimize greenhouse gas emissions and completely eliminate routine gas flaring.

It is completely electric and the associated gas will be completely reinjected into the reservoirs, with production scheduled to start in 2028.

Block 20/11, operated by Total, has as partners the national oil company Sonangol and the Malaysian state oil company, Petronas.

The president of ANPG, Paulino Jerónimo, quoted in the statement, highlighted the importance of this first development in the maritime area of the Kwanza Basin "to show the opening of new oil frontiers in Angola", keep Angola at the top of the list of African oil producers and generate revenues.

This is Total's seventh FPSO in Angola and the first development in the Kwanza Basin, according to the president of the French oil company, Patrick Pouyanné.


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