ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Politics

Mon, 16 Dec 2019 18:52 - Updated Mon, 16 Dec 2019 18:52

Total invests USD 2.5 billion in Block 17

Luanda - French oil company Total will invest USD 2.5 billion in Angolan offshore block 17 by 2023, which will allow the Angolan subsidiary to add more than 100,000 barrels of crude to its daily production.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

1 / 1

Director-geral da Total, Patrick Pouyanné

Photo: Francisco Miúdo

President João Lourenço (right) welcomes director - general of Total, Patrick Pouyanné

Photo: Francisco Miúdo

Block 17, located 140 kilometers off the Angolan coast in the Congo basin, has a production of around 440,000 barrels per day and, in 2015, peaked at 700,000 barrels of oil per day.

Speaking today (Monday) to the press, after being received, in audience, by the President of the Republic, João Lourenço, the managing director of the Total Group, Patrick Pouyanné, said that the investment in the bloc aims to maintain its level over 400.000 barrels / day by 2023.

Patrick Pouyanné also spoke of the signing of an oil exploration extension contract, signed today, in Luanda, between the National Oil, Gas and Biofuels Agency (ANPG) and the companies Equinor, ExxonMobil, BP and Sonangol.

 The document foresees the extension of the exploration license of block 17, until 2045.

Block 17 is operated by Total (40%) and has subsidiaries Equinor (23.33%), Exxon Mobil (20%) and BP (16.67%).

Total Angola is one of the most important subsidiaries of the French group, the 5th largest energy producer in the world, installed on five continents, with operations in over 130 countries.

In Angola, the company started its activities between 1952 and 1953, when it received the first concession, in Angolan onshore and offshore - Kwanza Basin and Lower Congo Basin.

Read also
  • 16/12/2019 18:36:54

    FAA wants military justice action in fighting crime

    Luanda - The Angolan Deputy Armed Forces Chief of Staff for Patriotic Education, João António Santana, defended Monday, in Luanda, a greater involvement of the military justice organs in the fight against violent crime.

  • 13/12/2019 18:29:55

    Transplant Law gets Vatican Reference

    Luanda - The Angolan law on transplant of human cells, tissues and organs in September this year was praised at the summit of African Women Judges and Prosecutors on Trafficking in Human Beings and Organized Crime in the Vatican.

  • 13/12/2019 18:06:28

    South Africa wants to strengthen presence in Angola

    Luanda - South Africa expressed Friday in Luanda an interest in increasing the presence of its business class in Angola, with the expectation of investing more in Luanda and in the other provinces of the country.