Mon, 12 Nov 2018 16:44 - Updated Mon, 12 Nov 2018 16:44
Total announces new investments to increase production
Luanda - French oil firm Total and its affiliates said they made two investment decisions in Block 17 in order to develop the satellite fields that will be added to the existing infrastructure to accelerate oil production.
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FPSO Kaombo Norte
Photo: Gaspar dos Santos
FPSO Girassol in Bloc 17
This is expressed in a note released Saturday (10) ahead of inauguration of FPSO Kaombo Norte floating unit, located in Block 32, with a daily production of 115,000 barrels of oil.
The Total also announced its plan to continue developing programme in the country, after the launch of Zínia 2 project in May.
Block 17, located 150 km off Angolan coast, under way since 1992, has four operating FPSOs: Clov, Dália, PazFlor and Girrassol.
Meanwhile, the company and its associates intend to develop the CLOV Phase 2 project. But this entails drilling of seven additional wells.
To this purpose, the company foresees to start production in 2020 to add 40,000 barrels of oil / day.
Total also foresees to develop Dalia Phase 3 project, with production set to start in 2021 with a production plateau of 30,000 oil/day.
To attain this goal, the firm needs to drill six additional wells.
Zínia 2, CLOV 2 and Dalia 3 will allow to reach around 150 million barrels of additional resources to maintain the production plateau of Block 17 above 400,000 barrels of oil / day until 2023.
This will allow an improve in profitability of this "prolific" block, with more than 2.6 billion barrels already produced.
Total operates in Block 17 (40% share) along with Sonangol (concessionary) and other partners like Equinor (23.33% ), Exxon Mobil (20%) and BP (16.67% ).
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