TotalEnergies Greenlights Major Offshore Project to Boost Angola’s Oil Production

A significant milestone has been reached in Angola with the announcement by TotalEnergies and its partners in Block 20/11 of a Final Investment Decision (FID) for the Cameia and Golfinho fields. This decision marks the beginning of the development of the $6 billion deepwater Kaminho project, the first large-scale deepwater development in the Kwanza Basin.

The Kaminho project is expected to boost Angola’s oil production, create jobs, and support the country’s economic growth. It also aligns with Angola’s national strategy to solidify its position as a leading player in the continent’s oil and gas sector.

Project Highlights:

• Investment: $6 billion
• Production: 70,000 barrels per day (bpd)
• Jobs: Over 10 million work hours
• First Production: 2028

Project Benefits:

• Increase Angola’s oil production
• Create jobs
• Support economic growth
• Strengthen Angola’s position as a major oil and gas player
• Promote development of low-carbon oil and gas projects

The Africa Energy Chamber commends TotalEnergies, its partners, and the Angolan government for this landmark decision. The AEC believes the Kaminho project will serve as a model for the development of other deepwater projects in Africa.

“Angola, one of Africa’s largest oil and gas producers, continues to demonstrate its commitment to increasing production and reducing energy poverty through oil and gas monetization. The announcement by TotalEnergies and the ANPG is a crucial step towards achieving this goal, and the AEC commends the efforts of the Block 20/11 partners in advancing this important project. The Cameia and Golfinho fields reinforce Angola’s status as a major global producer,” stated NJ Ayuk, Executive Chairman of the AEC.

In addition to the FID announcement, TotalEnergies signed a Memorandum of Understanding (MoU) with Sonangol EP for the decarbonization of Angola’s oil and gas industry. This MoU paves the way for a new era of low-carbon oil and gas development in Angola.

The AEC is confident that the Kaminho project and the decarbonization MoU will contribute to positioning Angola as a leader in responsible and sustainable oil and gas development in Africa.