Total has signed several agreements with Sonangol for new opportunities covering both upstream and downstream activities in Angola.
The companies have reached an agreement regarding the contractual conditions for the development of Zinia Phase 2, which is located in Block 17 and operated by Total with a 40% interest, enabling a commitment to the final investment decision.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Zinia 2 will be connected to the Pazflor FPSO and is expected to produce 40,000bpd.
Total chairman and CEO Patrick Pouyanné said: “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.”
In addition, the companies have agreed to jointly explore Block 48, committing to restarting deep offshore exploration in Angola.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe first phase of the joint exploration programme comprises the drilling of one exploration well, and is scheduled to last for two years.
Simultaneously, Total and Sonangol signed a memorandum of understanding (MoU) to jointly work for the establishment of a retail network in the country, including logistics and the supply of oil products.
Last year, Total’s production in the country stood at 243,000bpd of oil equivalent.
The company operates Block 17 with a 40% interest, while Sonangol is the concessionaire of the licence.
