TOTAL Bets on Angola for the Next 25 Years

French major TOTAL, as operator, and its partners Equinor, Exxon and BP, have signed an agreement with the Angolan national oil, gas and biofuels agency ANPG and the state hydrocarbon firm Sonangol, to extend their consortium’s production licenses to 2045.

As part of the agreement, Sonangol will obtain a 5% interest in Block 17 on the effective date and an additional 5% interest in 2036. The consortium will also pay some production bonuses to the State of Angola along the life of the license and will spend $20Million for social programmes.

TOTAL describes Block 17 as “a true success story, with almost Three Billion barrels of oil produced since 2001 by four floating production, storage and offloading (FPSO) units: Girassol (2001), Dalia (2006), Pazflor (2011) and CLOV (2014)”.Located 150 kilometres off the Angolan coast in water depths ranging from 600 to 1,400 metres, the block produces around 440,000 barrels of oil equivalent per day. “The potential of this very prolific block is still high”, the company affirms, “with more than 1 Billion barrels yet to be produced”.

Three short-cycle brownfield projects — Zinia Phase 2, CLOV Phase 2 and Dalia Phase 3 — are currently under development on the block, to add 150 Million barrels of resources, and other brownfield projects for extending the production of Pazflor, Rosa, Girassol and Dalia are under study.

“Additional exploration campaigns might also help unlock further resources and two wells are already planned to be drilled in 2020”, TOTAL explains.

 



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