(Source: Shutterstock)
TotalEnergies along with partners, Petronas and Sonangol, announced May 21 the final investment decision (FID) on the Kaminho project offshore Angola.
The Kaminho project, which is the first large deepwater development in the Kwanza basin, will develop the Cameia and Golfinho fields in Block 20/11. The project is located approximately 62 miles off the coast of Angola, in approximately 5,500 ft of water.
The development will convert a very large crude carrier into an FPSO unit connected to a subsea production network. The FPSO is all-electric and associated gas will be fully reinjected into the reservoirs. Production is expected in 2028, with a plateau of 70,000 bbl/d of oil.
TotalEnergies operates Block 20/11 with a 40% ownership stake. Petronas holds 40% ownership and Sonangol holds 20%.
TotalEnergies and Sonangol EP also signed a memorandum of understanding to share decarbonization research and technology, with a “strong focus” on emissions reduction and renewable energies, TotalEnergies said.
TotalEnergies will support the startup and operation of Sonangol’s new Sumbe R&D center which focuses on reservoir geology, process electrification and photovoltaics.
Recommended Reading
Permian Resources Closes $820MM Bolt-on of Oxy’s Delaware Assets
2024-09-17 - The Permian Resources acquisition includes about 29,500 net acres, 9,900 net royalty acres and average production of 15,000 boe/d from Occidental Petroleum’s assets in Reeves County, Texas.
Crackin’ It at Kraken: Inside the Bakken’s Ramped-up Private E&P
2024-07-24 - Kayne Anderson-backed Kraken Resources is producing more than 80,000 boe/d today and has a new Fitch Ratings credit score to take to the M&A bank.
Private Equity Looks for Minerals Exit
2024-07-26 - Private equity firms have become adroit at finding the best mineral and royalties acreage; the trick is to get public markets to pay more attention.
Devon Capitalizing on Bakken, Eagle Ford Refracs
2024-08-07 - Devon Energy’s Delaware Basin production dominated the quarter for the multi-basin E&P, but the company is tapping into recompletion opportunities to supplement production, executives said.
International OFS Firm HMH Plans to IPO, Activate in M&A
2024-08-13 - The firm is a 50/50 joint venture of Baker Hughes and Akastor ASA formed in 2021 to include brands such as Hydril and Vetco Gray as well as Wirth and Maritime Hydraulics.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.