TotalEnergies has struck a deal with Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) and Sonangol Pesquisa e Produção for the development of deep-water oil fields in the Kwanza basin off the coast of Angola.
The heads of agreement, which was signed by TotalEnergies EP Angola, paves the way for the final investment decision this year following approval.
Under the agreement, the Cameia and Golfinho fields in the Kwanza basin, which are situated on Blocks 20 and 21, some 150 km southwest of Luanda, will be developed.
The project will include a subsea network-connected floating production storage and offloading vessel, the seventh for TotalEnergies in Angola.
With the new design that includes a zero flaring concept and electrical generation using a combined cycle turbine, the project is expected to have lower carbon intensity.
As the operator, TotalEnergies EP Angola controls an 80% stake in both blocks and the remaining stake is held by Sonangol Pesquisa e Produção.
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ANPG Chairman of the Board Paulo Jerónimo said: “This agreement should allow the first production in the maritime zone of the Kwanza and may contribute decisively for the national production objectives. Its potential may generate interest from other operators, including the beginning of other developments on the Kwanza Basin.”
The Cameia and Golfinho fields are anticipated to start producing oil in 2026, reaching their peak output of about 68,978 bpd in 2029.
TotalEnergies President, Exploration & Production Nicolas Terraz said: “Together with our partners, we are working to make possible this first offshore development project in the Kwanza basin, which will allow to put in production Cameia and Golfinho discoveries and add more value to new national energy resources.”