BP BP Plc

   By Alberto Delclaux 
 

Total SA (FP.FR) said Monday that it will launch the Zinia 2 deep offshore development in Angola alongside partners Equinor ASA (EQNR.OS), BP PLC (BP.LN) and Exxon Mobil Corp. (XOM).

The French oil-and-gas company said the partners have taken the final investment decision for the development, which will have a production capacity of 40,000 barrels a day. Zinia 2 comprises nine wells at depths of 600 meters to 1,200 meters and is tied to the Pazflor floating production, storage and offloading vessel.

"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, who heads exploration and production at Total.

The development forms part of Block 17, which Total operates with a 40% interest, with Equinor holding 23%, Exxon Mobil 20% and BP the remaining 17%.

Equinor was formerly known as Statoil.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

May 28, 2018 12:33 ET (16:33 GMT)

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