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TotalEnergies and Petronas announce FID for Angola project

defence marine offshore lubricant

Oil companies Petronas and TotalEnergies have announced that they have made their final investment decision (FID) for the Kaminho project offshore of Angola.

The Kaminho project is a joint venture between TotalEnergies, Petronas and Sonangol, with interests of 40%, 40%, and 20%, respectively.

It will involve developing the Golfinho and Cameia fields, which are at a depth of 1,700 metres, about 60 miles off the coast of Angola.

TotalEnergies, which also makes the Total lubricant and metalworking range, will serve as operator for the project.

More than 10 million man-hours in Angola will be required over the course of the project, mainly in local yards for construction and offshore operations. A “very large crude carrier” (VLCC) will be converted into a floating production storage and offloading (FPSO) vessel with minimal greenhouse gas emissions, and this will be linked to an undersea production network.

The FPSO will run entirely on electricity, and to avoid venting or flaring, any gas that comes with the oil will be reinjected back into the reservoir.

TotalEnergies’ CEO and Chairman, Patrick Pouyanné, said the company was pleased to be launching the project together with Petronas and Sonangol, its strategic partners. He added:

“This project, which leverages innovation to fit with our investment criteria—breakeven under 30 $/b and carbon intensity of 16 kg CO2e/boe—will become our seventh FPSO in the country, and the first-ever development in the Kwanza basin.”

The project is expected to come online in 2028, with production ultimately reaching around 70,000 barrels per day.

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