Total and Sonangol have signed agreements for projects in Angola
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.
“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.