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Industry News Dec 11, 2017 16 Comments

Chairman and CEO of Total, Patrick Pouyanné, has signed a number of agreements with Angola’s national oil company, Sonangol, that will cover both upstream and downstream activities.

Following the agreements, the two companies will jointly restart deep offshore exploration of oil and gas, production, refining and processing activities in the country, with the first phase of the programme lasting two years.

The discussions resulted in several agreements between French energy company Total and Sonangol including;
  • Zinia Phase 2 project development
    Total and Sonangol agreed on the contractual conditions for the development of Zinia Phase 2, enabling a commitment to the final investment decision. Located in Block 17 and operated by Total (40%), Zinia 2 will be connected to the Pazflor FPSO and will produce 40,000 barrels per day.
  • Entry on block 48
    Total and Sonangol have decided to jointly explore Block 48. This agreement contributes to restarting deep offshore exploration in Angola. The first phase of this program will last for two years with the drilling of one exploration well.
  • Extension of cooperation
    • Distribution of oil  products
      Total and Sonangol signed a Memorandum of Understanding (MoU) to develop jointly a retail network in the country including logistics and the supply of oil products.
    • Renewable energy
      Both companies signed an MoU providing for them to screen jointly opportunities for renewable energy supply in Angola.

“As Angola’s main oil partner, we are pleased with the strong willingness expressed by the country’s new authorities to drive an investment dynamic in the oil and gas sector, essential to the country’s economy, after three years impacted by the sharp drop in prices.

“These agreements demonstrate Total’s willingness to contribute to exploration in Angola, launching new projects such as Zinia 2 on Block 17, and extending our cooperation with Sonangol to new businesses in oil product distribution and renewable energy,” said Patrick Pouyanné, Chairman and CEO of Total.

“In particular, Total is making all necessary efforts to ensure a start-up as soon as possible during summer 2018 for the Kaombo project, currently the most significant investment in the country.”

The companies have also signed a memorandum of understanding (MoU) to explore opportunities for renewable energy supply and for the development of a network to distribute oil products in the country.

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