![TotalEnergies Makes FID on Kaminho Deepwater Project](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/05/totalenergies-makes-fid-kaminho-deepwater-project.jpg?itok=SiZFxFp4)
(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
Regional Banks Take Advantage of Large Lenders’ Oil, Gas Hesitancy
2024-06-06 - Regional banks are picking up market share and rallying the U.S. upstream sector.
Quantum’s Wil VanLoh on Turning ESG into E$G
2024-05-21 - Wil VanLoh, founder and CEO of Quantum Energy Partners said private companies need to change their mindset on ESG because they’re building a product to sell to public companies — and may be missing out on cost savings.
Family Offices: Familiar and New Names Coming to Oil, Gas Table
2024-06-06 - Haynes and Boone semi-annual surveys of oil and gas lenders and producers reveal measured optimism capital formation—and a broader audience of family offices than seen in prior decades is tuning in.
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
Energy Capital Partners Raises $6.7B, Buys Atlantica
2024-05-29 - The New Jersey-headquartered Energy Capital Partners said its ECP V (Fund V) secured capital commitments of $4.4 billion plus an additional $2.3 billion of co-investment capital; the private equity firm also announced a $2.6 billion take-private of Atlantica Sustainable Infrastructure.