A memorandum of understanding (MoU) has been signed for the development of the Cameia and Golfinho oil fields in Kwanza, Angola. The MoU was signed between TotalEnergies, the National Agency for Petroleum, Gas, and Biofuels (ANPG), and Sociedade Nacional de Combustíveis de Angola, E.P. (Sonangol).
Reportedly, the signing of this agreement represents a significant step forward toward the final investment decision (FID) in the Cameia and Golfinho oil fields project. The project, according to stakeholders, is expected to begin later this year, once all regulatory approvals have been received.
It will involve the drilling of approximately five wells. The project will also include the installation of a floating production and storage and offloading unit (FPSO). The FPSO, which will be TotalEnergies’ seventh off Angola, will be connected to an underwater network that includes wells and subsea trees.
The Cameia and Golfinho oil fields project will also incorporate the installation of a combined cycle turbine that will produce electricity while limiting the carbon impact of the development.
About the Cameia and Golfinho oil fields in Kwanza
With a water depth of around 5,610 feet, the oil fields were discovered in 2012 on offshore blocks 20 and 21, approximately 150 km southwest of Luanda. TotalEnergies EP Angola owns 80% shares at the Cameia and Golfinho oil fields in Kwanza while the remainder is held by Sonangol Pesquisa & Produção.
The development is expected to begin production in 2026. It is also expected to reach its peak in 2029. During its peak, the Cameia and Golfinho oil fields project will reportedly produce approximately 68,978 bpd of crude oil and condensate.
Based on economic assumptions, the production at the Cameia and Golfinho oil fields will continue until the fields reach their economic limit in 2059.