Kaminho deepwater project offshore Angola gets FID from TotalEnergies and partners

The final investment decision (FID) for the potentially 70,000bopd-Kaminho deepwater project offshore Angola has been closed by Patrick Pouyanné, chairman and CEO of TotalEnergies; João Lourenço, President of Angola; Diamantino Azevedo, Minister of Mineral Resources, Oil & Gas (MIREMPET); Paulino Jerónimo, chairman and CEO of ANPG, and Gaspar Martins, chairman and CEO of Sonangol 

“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 Pouyanné. 

The Block 20/11 site that includes Cameia and Golfinho fields is situated 100 km off the coast of Angola by 1,700 m water-depth, and is the first large deepwater development in the Kwanza basin. Its shareholders are TotalEnergies (40%), Petronas (40%) and Sonangol (20%). 

The FID will support the conversion of a very large crude carrier (VLCC) to a floating production storage and offloading (FPSO) unit. Connected to a subsea production network, the unit will be distinguished in its all-electric, sustainable feature. It will have the capacity to minimise greenhouse gas emissions, with scope for a full gas reinjection into the reservoirs to eliminate routine flaring. Bulk of the work will be delivered for TotalEnergies by Saipem under contracts worth US$3.7bn.

MoU to advance oil and gas decarbonisation

Sonangol EP is planning the Sumbe Reasearch and Development Centre to advance the decarbonisation of oil and gas industry, with a strong focus on methane emissions reduction and renewable energies. It has tied up with TotalEnergies on the project through a memorandum of understanding (MoU), whereby it will support the Sonangol research and technology teams with skill development on reservoir geology, process electrification and photovoltaics.

“We look forward to joining forces with Sonangol in technology to promote innovation and low-carbon technologies for the energy industry in Angola, in particular to slash methane emissions and contribute to the diversification of Angola's energy mix,” Pouyanné said. 

With offshore operations and construction at local yards, the Kaminho project will involve more than 10 mn man-hours in Angola. 

“This partnership is for us of extreme importance, as it creates a joint operating entity between Sonangol and TotalEnergies in production phase. It is also relevant that the contracts signed today include national companies and contribute to local content with more than 10 million hours of work to be performed by local companies,”said de Azevedo.

Production start-up is expected in 2028.