Total and Sonangol have signed agreements for projects in Angola

By professo

The French oil and gas company, Total, and the Angola-based Sonangol have signed serval agreements to develop projects in south east African country.

The agreements cover both upstream and down stream activities, with the companies working on the development of the second phase of the Zinia project.

The two companies have also decided to jointly explore Block 48, with the first phase of this operation lasting for two years with the drilling of an exploration well.

“As Angola’s main oil partner, we are pleased with the strong willingness expressed by the country’s new authorities to drive an investment dynamic in the oil and gas sector, essential to the country’s economy, after three years impacted by the sharp drop in prices,” reported Chairman and CEO of Total, Patrick Pouyanné.

SEE ALSO:

“Today’s agreements demonstrate Total’s willingness to contribute to this dynamic by restarting exploration offshore in Angola, launching new projects such as Zinia 2 on Block 17, and extending our cooperation with Sonangol to new businesses in oil product distribution and renewable energy.”

“In particular, Total is making all necessary efforts to ensure a start-up as soon as possible during summer 2018 for the Kaombo project, currently the most significant investment in the country.” 

Zinia 2 is located in Block 17, operated by Total, who has a 40% stake. The offshore field will be connected to the Pazflor FPSO and is anticipated to produce 40,000 barrels per day.

Share

Featured Articles

Colliers MENA CEO Raja Alameddine on leadership and strategy

As the just appointed CEO of Colliers MENA, real estate veteran Raja Alameddine talks strategy, leadership style, and skills critical for today’s C-Suite

Top 10 outsourcing companies in the world

The Time Doctor OA500 index – compiled by Time Doctor and Outsource Accelerator – has ranked the biggest outsourcing providers in the world

Red Sea Global: Building sustainable tourism in Saudi Arabia

Luxury property developer Red Sea Global is transforming Saudi Arabia into an incredible, sustainable tourism destination. We speak to the CEO John Pagano

Leena Nair – from Unilever people pioneer to CEO of Chanel

Leadership & Strategy

Top 10 female CEOs of the Fortune Global 500

Leadership & Strategy

UAE cyber leaders told to go on the attack against hackers

Technology