TotalEnergies has decided to move ahead with a $6 billion deepwater oil project offshore Angola.
TotalEnergies and its partners have decided to move ahead with a $6-billion deepwater oil project offshore Angola , the French supermajor said on Tuesday. TotalEnergies is the operator and holder of 40% in Block 20/11 where the deepwater Kaminho project will be developed. Its partners are Malaysia’s Petronas with a 40% stake and Angola ’s oil firm Sonangol with a 20% interest.
This project has a breakeven of below $30 per barrel and carbon intensity of 16 kg CO2e/boe, TotalEnergies chairman and CEO Patrick Pouyanné said in a statement. Kaminho will be the French supermajor’s seventh FPSO in Angola and the first-ever development in the Kwanza basin, Pouyanné added. Angola left OPEC at the end of 2023 amid a row over production quotas in the OPEC agreement.
Crude Oil Angola Offshore Deepwater Energy Petronas Sonangol
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