TOTAL ENERGIES LAUNCHES $6B KAMINHO DEEPWATER OIL AND GAS PROJECT OFFSHORE ANGOLA

SOURCE: oil and gas

Patrick Pouyanné, CEO of TotalEnergies, announced together with partners and Angolan authorities the final investment for the Kaminho deepwater project, starting production in 2028.

Preparatory Total Energies (40%), together with its Block 20/11 partners, Petronas (40%) and Sonangol (20%), announced the Final Investment Decision (FID) of the Kaminho project to develop the Cameia and Golfinho fields, located 100 km. off the coast of Angola, 1,700 m deep. This FID has been possible thanks to close collaboration with the concessionaire Agencia Nacional de Petróleo e Gas (ANPG).

The Kaminho project, which is the first major deepwater development in the Kwanza Basin, involves the conversion of a very large crude oil carrier (VLCC) into a floating production, storage and offloading (FPSO) unit, which will be connected to an underwater production network. Designed to minimize greenhouse gas emissions and eliminate routine flaring, this FPSO is all-electric and the associated gas will be completely reinjected into the tanks. Production is expected to begin in 2028, with a plateau of 70,000 barrels of oil per day.

The Kaminho project will involve more than 10 million man-hours in Angola, primarily with offshore operations and construction at local shipyards. On this occasion, TotalEnergies and Sonangol EP also signed a Memorandum of Understanding to share expertise in research and technology, in particular in the decarbonization of the oil and gas industry, with a strong focus on reducing methane emissions and energy. renewable. TotalEnergies teams will provide support to Sonangol EP for the start-up and operation of its new R&D center in Sumbe and for the development of the skills of Sonangol's research and technology teams, with special attention to reservoir geology , process electrification and photovoltaic energy.