Angola: Total Starts Production From Zinia Phase 2, Successful Short-cycle Development on Block 17
May 06 2021 - 3:15AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT), operator of Block 17 in
Angola, together with the Angolan National Oil, Gas and Biofuels
Agency, announce the start of production from Zinia Phase 2
short-cycle project, connected to existing Pazflor's FPSO (Floating
Production, Storage and Offloading unit). The project includes the
drilling of nine wells and is expected to reach a production of
40,000 barrels of oil per day by mid-2022.
Located in water depths from 600 to 1,200 meters and about 150
kilometers from the Angolan coast, Zinia Phase 2 resources are
estimated at 65 million barrels of oil.
The development of this project was carried out according to
schedule and for a CAPEX more than 10% below budget, representing a
saving of 150 million dollars. It involved more than 3 million
manhours of work, of which 2 million were performed in Angola,
without any incident.
"The successful start-up of this project, despite the challenges
that have arisen as a result of the pandemic, demonstrates Total's
commitment to ensure a sustainable output on Block 17, for which
the production license was recently extended until 2045. Zinia
Phase 2 project reflects the quality of short cycle projects in
Angola with high return on investment", said Nicolas Terraz,
President Africa, Exploration and Production at Total.
Paulino Jerónimo, CEO of the National Oil, Gas and Biofuels
Agency, commented as follows, "Zinia Phase 2 is a key project for
Angola that comes at the right time to sustain the production of
the country. We welcome our collaboration with Total in Angola,
that keeps investing with its partners in the development of the
country oil resources".
Block 17 is operated by Total with a 38% stake, alongside with
Equinor (22.16%), ExxonMobil (19%), BP Exploration Angola Ltd
(15.84%) and Sonangol P&P (5%). The contractor group operates
four FPSOs in the main production areas of the block, namely
Girassol, Dalia, Pazflor and CLOV.
Total in Angola
Total has been present in Angola since 1953, where it counts
today around 1,500 employees in the business segments of
Exploration & Production, Marketing & Services, and Trading
& Shipping.
Total's equity production in Angola averaged 212,000 barrels of
oil equivalent per day in 2020 from operated blocks 17 and 32, and
from non-operated assets 0, 14, 14K, and Angola LNG. Total is the
country's leading oil operator with close to 45% of Angola's
operated oil production.
Total also operates several blocks in pre-development phase:
Block 17/06 in the Lower Congo Basin, Block 16 where the Chissonga
discovery was made and the recently acquired Blocks 20/11 and 21/09
in the Kwanza Basin. It is also operator of Block 48 in the
emerging ultra-deep offshore play, where an exploration phase is
under way.
In the gas sector, Total holds a 13.6% stake in the
5.2-million-ton-per-year Angola LNG liquefaction plant, which is
supplied with associated gas from the country's offshore oil
fields. Total is also partner in the New Gas Consortium, a key
player in developing Angola's natural gas resources.
Through Total Eren, Total has executed end of 2020 a Memorandum
of Understanding with the Angolan Ministry of Energy and Water in
order to build and operate a 35 MWp solar project in Angola with
its partner Greentech - Angola Environment Technology, Ltd, an
experienced energy developer based in Luanda, and the state-owned
company Sonangol.
***
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TOTAL
SE nor any of its subsidiaries assumes any obligation to update
publicly any forward-looking information or statement, objectives
or trends contained in this document whether as a result of new
information, future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210505006266/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2021
(END) Dow Jones Newswires
May 06, 2021 03:00 ET (07:00 GMT)
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