TotalEnergies, along with its partners Petronas and Sonangol, has made a Final Investment Decision (FID) for the Kaminho project to develop the Cameia and Golfinho fields offshore Angola.
Located 100 km off the coast of Angola in 1,700 m water-depth, the fields are part of the Block 20/11.
TotalEnergies has a 40% working interest, with Petronas holding 40% and Sonangol 20% share.
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 and associated gas will be fully reinjected into the reservoirs.
Production start-up is expected in 2028, with a plateau of 70,000 barrels of oil per day, TotalEnergies said.
“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 $/b 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,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
Sonangol EP and TotalEnergies also signed a memorandum of understanding (MoU) to share expertise on Research & Technology, notably in decarbonization of the Oil & Gas industry, with a strong focus on methane emissions reduction and renewable energies.
TotalEnergies’ teams will provide support to Sonangol EP for the start-up 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.
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