FRENCH oil major TotalEnergies announced on Tuesday that it is moving forward with the development of the Kaminho oil project, located 100 kilometres off the coast of Angola, following a final investment decision. This significant project, valued at $6bn, involves the development of the Cameia and Golfino oil fields within Block 20/11, as confirmed by Angola’s national hydrocarbon agency, ANPG.
TotalEnergies CEO Patrick Pouyanne highlighted the project’s importance, stating, ‘This project… will become our seventh FPSO unit in the country and the first-ever development in the Kwanza basin.’ The production is anticipated to commence in 2028, with an expected output plateau of 70,000 barrels of oil per day.
Italian engineering firm Saipem has been contracted to convert a very large crude carrier into a Floating Production Storage and Offloading (FPSO) unit. This FPSO will facilitate the connection of oil from the offshore fields to a subsea production network, playing a critical role in the project’s infrastructure.
TotalEnergies holds a 40 percent operating interest in Block 20/11, sharing the venture with Malaysia’s Petronas, which also holds 40 percent, and Angola’s Sonangol with 20 percent.
Currently, TotalEnergies is the leading operator in Angola, a country that produces 1.1 million barrels of oil per day, making it Africa’s second-largest crude exporter. Despite this, the nation’s oil fields are experiencing a decline rate of 15 percent annually. In response, Angola has launched an aggressive campaign to attract investors, maintain oil production levels, discover new reserves, and boost natural gas production amidst growing global interest in newer discoveries in Guyana, Namibia, and Suriname.
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