Angola: Total get two new offshore licenses
Topics: ANGOLA TOTAL OFFSHORE LICENSES
Subject to the approvals of the competent authorities and partners:
- The Group will hold a 50% working interest, alongside Sonangol (20%) and BP (30%), in Block 20/11, located in the central Kwanza Basin in water depths ranging from 300 to 1,700 meters.
- The Group will hold an 80% working interest alongside Sonangol (20%) in Block 21/09, located in the south-central Kwanza Basin in water depths ranging from 1,600 to 1,800 meters.
Total, operator, and its partners Equinor, Exxon and BP have signed an agreement with national oil, gas and biofuels agency ANPG and state-owned Sonangol of Angola, to extend their consortium’s production licenses to 2045. As part of the agreement, Sonangol will obtain a 5% interest in Block 17 on the effective date and an additional 5% interest in 2036. Additionally, the consortium will pay some production bonuses to the State of Angola along the life of the license and will spend 20M$ for social programs.
Located 150 kilometers off the Angolan coast in water depths ranging from 600 to 1,400 meters, Block 17 has been a true success story, with almost 3 billion barrels of oil produced since 2001 by four floating production, storage and offloading (FPSO) units: Girassol (2001), Dalia (2006), Pazflor (2011) and CLOV (2014).
Currently producing around 440,000 barrels of oil equivalent per day, the potential of this very prolific block is still high, with more than 1 billion barrels yet to be produced. ■