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TotalEnergies and partners announce FID for Kaminho project in Angola

TotalEnergies announced the final investment decision (FID) on the Kaminho deepwater project in Angola on 20 May. TotalEnergies (40%), along with its Block 20/11 partners Petronas (40%) and Sonangol (20%) will develop the Cameia and Golfinho fields, located 100 km off the coast of Angola, in 1,700 m water depth.

The Kaminho project, which is the first large deepwater development in the Kwanza basin, comprises the conversion of a Very Large Crude Carrier (VLCC) to a Floating Production Storage and Offloading (FPSO) unit, which will be connected to a subsea production network. Designed to minimize greenhouse gas emissions and eliminate routine flaring, this FPSO is all-electric. Associated gas will be fully reinjected into the reservoirs. Production startup is expected in 2028, with a plateau of 70,000 bbl/day of oil.

The Kaminho project will involve over 10 million manhours in Angola, mainly with offshore operations and construction at local yards.

The FID was announced during a meeting in Luanda of Patrick Pouyanné, Chairman and CEO of TotalEnergies, with João Lourenço, President of Angola; Diamantino Azevedo, Minister of Mineral Resources, Oil & Gas (MIREMPET); Paulino Jerónimo, Chairman and CEO of Agencia Nacional de Petroleo e Gas (ANPG); and Gaspar Martins, Chairman and CEO of Sonangol.

Further, TotalEnergies and Sonangol signed a Memorandum of Understanding to share expertise on research and technology, notably in decarbonization of the oil and gas industry, with a focus on methane emissions reduction and renewable energies. TotalEnergies’ teams will provide support to Sonangol for the startup and operation of its new Sumbe R&D center and for the development of the skills of the Sonangol research and technology teams, with a focus on reservoir geology, process electrification and photovoltaics.

“Building on our pioneering spirit and our long-term partnership with Angola, we are pleased to launch the Kaminho project along with our strategic partners, Sonangol and Petronas, and the strong support and confidence of the Angolan authorities. This project, which leverages innovation to fit with our investment criteria – breakeven under $30/bbl 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”, Mr Pouyanné said.

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