Global energy major TotalEnergies has inked a deal with Angola’s national oil company Sonangol and the state regulator, the National Agency for Petroleum, Gas and Biofuels (ANPG), for the development of the Cameia and Golfinho fields located in the Kwanza Basin, offshore Angola.
The three parties have agreed to build a floating production storage and offloading (FPSO) vessel – which will mark TotalEnergies’ seventh FPSO vessel in Angola following 70 years of presence in the country – as part of the project.
The project will also include the development of a combined cycle turbine for electricity generation, a subsea network to connect the Cameia and Golfinho wells as well as infrastructure and technologies for the project to achieve zero flaring and reduce its carbon footprint.
The agreement paves the way for the three parties to fast track a final investment decision (FID) for the development, thereby monetizating oil and gas reserves in Blocks 20 and 21 in the Kwanza basin which is located 150 km southwest of the Angolan capital Luanda. FID for the project is expected before the end of this year, subject to approval by project partners.
The development of Blocks 20 and 21 will mark the first offshore project to be developed in the Kwanza basin and is expected to significantly contribute towards the Angolan government’s strategy to expand the country’s portfolio of energy resources.
Paulo Jerónimo, Chairman of the Board of ANPG, stated that, “This agreement should allow the first production in the maritime zone of the Kwanza and may contribute decisively for the national production objectives. Its potential may generate interest from other operators, including the beginning of other developments on the Kwanza Basin.”
Gaspar Martins, Chairman of the Board at Sonangol, added that, “For the coming years, the objective is for this project to be successful. For some time now, we want Blocks 20 and 21 to start producing, and we target a FID this year, allowing soon that the offshore Kwanza Basin begins production.”
TotalEnergies is the operator of Blocks 20 and 21 with an 80% interest in each block while Sonangol holds a 20% share.
Source : Energy Capital Power