TotalEnergies and its partners have announced a major investment decision for the development of the Cameia and Golfinho fields in Angola. This $6 billion project marks the beginning of the Kaminho deepwater project, the first of its kind in the Kwanza Basin. The African Energy Chamber (AEC) applauds this milestone, recognizing its potential to set a high standard for deepwater projects in Angola and across the continent.
The development of Block 20/11 is spearheaded by TotalEnergies, with a 40% stake, alongside energy company Petronas (40%) and Angolan national oil company Sonangol (20%). Located 100km off the coast of Angola in water depths of 1,700 meters, the project will feature a Floating Production, Storage, and Offloading (FPSO) unit with a capacity of 70,000 barrels per day (bpd). This FPSO, the seventh developed by TotalEnergies in Angola, will be connected to a subsea production network. Production is expected to commence by 2028.
The Kaminho project is crucial for Angola’s goal of maintaining oil production at 1.1 million bpd by 2027 and increasing it to two million bpd thereafter. It will contribute to job creation and economic growth, while also positioning Angola as a key player in the oil and gas sector. TotalEnergies’ commitment to Angola is evident in its long-standing partnership with the country, spanning over 70 years. The Kaminho project further strengthens this partnership, showcasing TotalEnergies’ expertise in developing cost-effective and environmentally friendly oil and gas projects in Africa.
For Sonangol, the project signifies its emergence as a major player in Angola’s oil and gas market. Following privatization, Sonangol has transformed into a competitive operator, and its partnership with TotalEnergies on the Kaminho project demonstrates its expertise in large-scale oil and gas developments.
The AEC commends the efforts of TotalEnergies and its partners to drive this project forward, recognizing Angola’s commitment to increasing production and addressing energy poverty. In addition to the investment decision, TotalEnergies and Sonangol have signed a memorandum of understanding (MoU) for the decarbonization of the oil and gas industry in Angola. This partnership aims to reduce emissions and promote renewable energy projects through joint research and development initiatives. The collaboration will also focus on developing skills in geology and electrification.
The reforms implemented by President João Lourenço and Oil Minister Diamantino Azevedo have played a vital role in attracting capital investment to Angola. Achieving the investment decision while prioritizing decarbonization reflects TotalEnergies and Sonangol’s dedication to developing low-carbon oil and gas projects in Angola, aligning with the continent’s energy transition goals.
