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Total to launch new Angolan Oil & Gas projects

05/12/2017
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This week has seen French oil major Total and Angola’s Sonangol signing several agreements to launch new projects across their upstream and downstream activities.
The agreements between the two operators include exploration, distribution and renewable energy activities.
(Pazflor FPSO; Image via Total/Pascal Laurent).

The agreements reached between Total and Sonangol include:

  • Zinia Phase 2 project development- Total and Sonangol have agreed on the contractual conditions for the development of Zinia Phase 2, enabling a commitment to the final investment decision. Located in Block 17 and operated by Total (40%), Zinia 2 will be connected to the Pazflor FPSO and will produce 40,000 barrels per day.

  • Entry on Block 48- Total and Sonangol have decided to jointly explore Block 48. This agreement contributes to restarting deep offshore exploration in Angola. The first phase of this program will last for two years with the drilling of one exploration well.

Extension of cooperation

  • Distribution of oil products- Total and Sonangol have signed a Memorandum of Understanding (MoU) to develop jointly a retail network in the country including logistics and the supply of oil products.

  • Renewable energy- Both companies signed an MoU providing for them to screen jointly opportunities for renewable energy supply in Angola.

Commenting on the agreements, Patrick Pouyanne, Chairman and CEO of Total said:

“As Angola’s main oil partner, we are pleased with the strong willingness expressed by the country’s new authorities to drive an investment dynamic in the oil and gas sector, essential to the country’s economy, after three years impacted by the sharp drop in prices. Today’s agreements demonstrate Total’s willingness to contribute to this dynamic by restarting exploration offshore in Angola, launching new projects such as Zinia 2 on Block 17, and extending our cooperation with Sonangol to new businesses in oil product distribution and renewable energy. In particular, Total is making all necessary efforts to ensure a start-up as soon as possible during summer 2018 for the Kaombo project, currently the most significant investment in the country.”

Total has been present in Angola since 1953, and is today the leading oil operator in the country, with the Group’s production at 243,000 barrels of oil equivalent per day in 2016.

To be the first to find out about the latest Oil & Gas jobs in Angola, register your CV with Fircroft today.

Tags: Oil & Gas
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Total to launch new Angolan Oil & Gas projects - Time to read 2 min
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