Total, partners take final investment decision on Angola offshore oilfield

Offshore OilThe Zinia 2 project will have a production capacity of 40,000bpd. (Image source: Selbe Lynn/Flickr)French oil major Total and its partners said that they have taken the final investment decision on an oilfield off the coast of Angola

The Zinia 2 project, which has nine wells, will have a production capacity of 40,000bpd.

In light of higher oil prices, international oil companies such as Total have taken an interest in developing offshore oil and gas fields in Africa.

“Zinia 2 opens a new chapter in the history of Block 17. This project will allow to extend the profitability of this prolific block, with over 2.6 billion barrels already produced. Thanks to the favorable fiscal framework introduced by the Angolan authorities for satellite developments, other projects similar to Zinia 2 are currently under consideration on Block 17,” said Arnaud Breuillac, president, Total Exploration & Production.

“The project is also a good example of capex discipline and cost optimization: the work carried out to simplify the design while capturing deflation allowed the partners to cut the development costs by more than a half,” Breuillac said.

Total, which operates Block 17, has a 40 per cent interest along with Norway's Equinor and oil majors BP and Exxon Mobil.

The company, which has been operating in the country for over 60 years, produced 229,000boepd on average from Blocks 17, 1, 0 and Angola LNG.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?