Kaminho deepwater project : TotalEnergies announces major offshore development in Angola

TotalEnergies, in partnership with Petronas and Sonangol, has announced the Final Investment Decision (FID) for the Kaminho deepwater project aimed at developing the Cameia and Golfinho fields located 100 km off the coast of Angola in 1,700 m water-depth. This offshore oil project, the first large deepwater development in the Kwanza basin, marks a significant milestone with an investment strategy focused on sustainability and economic viability.

Strategic Development and Investment Details of the Kaminho Deepwater Project

The Kaminho deepwater project, a collaboration between TotalEnergies (40%), Petronas (40%), and Sonangol (20%), involves the conversion of a Very Large Crude Carrier (VLCC) into a Floating Production Storage and Offloading (FPSO) unit. This FPSO, designed to minimize greenhouse gas emissions and eliminate routine flaring, is notable for its all-electric operations with a plan for full reinjection of associated gas into the reservoirs. The development is anticipated to start production in 2028, reaching a production plateau of 70,000 barrels of oil per day.

Environmental Focus and Local Impact

TotalEnergies has committed to a project design that ensures a low carbon footprint, targeting a carbon intensity of 16 kg CO2e/boe and maintaining a project breakeven cost under $30 per barrel. The initiative will also generate over 10 million man-hours of work in Angola, predominantly in offshore operations and construction at local yards, contributing significantly to the local economy and workforce development.

TotalEnergies, in partnership with Petronas and Sonangol, has announced the FID for the Kaminho deepwater project

Collaborative Agreements and Future Prospects

In conjunction with the FID, TotalEnergies and Sonangol EP signed a Memorandum of Understanding to collaborate on research and technology, particularly focusing on decarbonizing the oil and gas industry. This includes methane emissions reduction and advancing renewable energy solutions. TotalEnergies will also support the startup and operation of Sonangol EP’s new Sumbe R&D center and aid in developing the skills of Sonangol’s research and technology teams.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed enthusiasm about the launch of the Kaminho deepwater project, stating, “This project, which leverages innovation to fit with our investment criteria, will become our seventh FPSO in the country and the first-ever development in the Kwanza basin. We look forward to joining forces with Sonangol in technology to promote innovation and low-carbon technologies for the energy industry in Angola.”

Government and Partner Statements on the Kaminho Deepwater Project

Diamantino de Azevedo, Angola’s Minister of Mineral Resources, Oil & Gas, emphasized the strategic importance of the Kaminho deepwater project in maintaining Angola’s position as a leading oil producer in Africa. Paulino Jerónimo, Chairman of the Board of ANPG, and Gaspar Martins, CEO of Sonangol, highlighted the project’s role in enhancing national oil and natural gas production, which is pivotal for the country’s economic development.

Tan Sri Tengku Muhammad Taufik, Petronas President and Group CEO, noted, “Reaching the FID for this development further demonstrates our steadfast commitment to deliver reliable energy and sustainable long-term value to our stakeholders.”