Angola moves on offshore Kwanza Basin oil and gas project
LUANDA, May 3, 2023 – Angola has signed a heads of agreement with TotalEnergies to develop the offshore Cameia and Golfinho fields in the Kwanza basin, the French energy giant announced on Tuesday.
The agreement was signed by Angola’s National Oil, Gas and Biofuels Agency (ANPG), NOC Sonangol and TotalEnergies for development of the two fields on blocks 20 and 21 located around 150 kilometres from Luanda.
The project will consist of an FPSO connected to a subsea network and is expected to produce around 70,000 boepd.
To cut down on its carbon intensity, the development will consist of a combined cycle turbine for electric power generation and a no-flare scheme.
The deal is seen as a move towards the project’s FID, which is expected in 2023 following government approvals.
“This agreement should allow the first production in the maritime zone of the Kwanza and may contribute decisively for the national production objectives,” said Paulo Jerónimo, chairman of the board of ANPG.
“Its potential may generate interest from other operators, including the beginning of other developments on the Kwanza basin.”
TotalEnergies holds 80% operating stakes in both Block 20 and Block 21, with Sonangol holding the remaining shares.
The year 2023 marks 70 years of activity for TotalEnergies in Angola.