Close
TotalEnergies sells shares in offshore block
MRA Online

TotalEnergies sells shares in offshore block

Petronas buys 40% interest

ANGOLA: TotalEnergies EP Angola Block 20 has finalised the sale to Petronas Angola E&P LTD (PAEPL) of a 40% interest in Block 20 in the Kwanza Basin in Angola. The transaction was completed for an amount of $400 million as at January 1st, 2023, subject to customary price adjustments.

TotalEnergies will retain the operatorship and a 40% interest in Block 20, alongside PAEPL (40%) and Sonangol Pesquisa e Produção S.A. (20%).

Block 20 contains the Cameia and Golfinho oil discoveries, located around 150 km southwest of Luanda. These discoveries are planned to be developed through a system of subsea wells connected to a FPSO (Floating Production, Storage and Offloading unit) with an oil production capacity of 70,000 barrels per day, which will be the seventh FPSO developed by TotalEnergies in Angola.

The project will include the best available technologies to minimise greenhouse gas emissions and the facilities will be designed for zero flaring, with the associated gas entirely reinjected into the reservoirs.

“TotalEnergies is pleased to welcome Petronas, one of its strategic partners, on Block 20 in the Kwanza basin. With Sonangol and Petronas, we have established a solid partnership that will collectively enable us to take the final investment decision for the development of the Cameia and Golfinho fields, with the support of the Angolan authorities,” said Nicolas Terraz, President, Exploration & Production at TotalEnergies.

Print
107

LATEST NEWS

Previous Next

Subscribe to newsletter

You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us. We will treat your information with respect. You agree that Maritime Review may process your information in accordance with its terms.
We use MailChimp as our marketing automation platform. By clicking below to submit this form, you acknowledge that the information you provide will be transferred to MailChimp for processing in accordance with their Privacy Policy and Terms.

CONTACT US

EMAIL:  editor@maritimesa.co.za
PHONE: +27 21 914 1157

Terms Of UsePrivacy StatementCopyright 2024 | More Maximum Media - publishers of Maritime Review Africa
Back To Top