TotalEnergies has partnered up with Malaysia’s Petronas to put up a US$6-billion offshore deepwater oil project in Angola. Named the Kaminho project, TotalEnergies owns 40 percent of the fields, Petronas owns 40 percent and Sonangol EP, an Angolan oil firm, owns 20 percent. The project is located 100 kilometres off the coast of Angola.
The project will feature the conversion of a very large crude carrier (VLCC) to a Floating Production Storage and Offloading (FPSO) unit by Saipem, an Italian engineering firm. The unit will be connected to a subsea production network. The FPSO unit will be all-electric. This will minimize emissions and eliminate routine flaring. Meanwhile all associated gas will be fully re-injected into the reservoirs.
First large deepwater development in Kwanza Basin
The Kaminho project is the first large deepwater development in the Kwanza Basin. This region is well-known for its “Aptian Salt Basins.” It is thick layer of evaporites that has influenced topography of the basin since its deposition and acts as an important petroleum reservoir.
According to Patrick Pouyanné, the chairman and CEO of TotalEnergies, the project has a breakeven of below $30 per barrel. Furthermore, the carbon intensity of fields has been projected to be16 kg CO2e/boe. This project will be TotalEnergies’ seventh Floating Production Storage Offloading unit in the country.
Projected production date & scope
Oil production has been projected to begin in 2028 according to the consortium. The plateau output has been pegged at 70,000 barrels of oil per day. This will greatly increase Angola’s output who is looking to open new frontier developments with the project in Kwanza Basin.
The oil producer left OPEC at the end of last year following disagreements over production quotas in the OPEC+ agreement. The country has mounted an aggressive campaign to attract investors, maintain oil production, bring on new reserves and increase natural gas production, as sector interest moves on to newer discoveries in Guyana, Namibia and Suriname.
TotalEnergies has been present in Angola since 1953. Today, the oil giant employs around 1,500 people across different business segments. The company has a diversified portfolio, deep offshore operated assets representing more than 45% of the country’s oil production, service stations in partnership with Sonangol and renewable energy projects, TotalEnergies in Angola is a key player.
Also Read: US$1.3 Billion Lobito Corridor Development Deal Signed by Angola
Venus light oil discovery in Namibia
Earlier this year, TotalEnergies discovered a significant amount of light oil with associated gas on the Venus prospect in Namibia. The discovery was made in block 2913B in the Orange Basin. Nearly 84 metres of net oil pay in a good quality Lower Cretaceous reservoir was found at the Venus 1-X well. Block 2913B covers approximately 8,215 km² in deep offshore Namibia. TotalEnergies is the operator with a 40% working interest. Additionally, QatarEnergy (30%), Impact Oil and Gas (20%) and NAMCOR (10%).
“This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange Basin, on which TotalEnergies owns an important position both in Namibia and South Africa. A comprehensive coring and logging program has been completed. This will enable the preparation of appraisal operations designed to assess the commerciality of this discovery,” said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies.
