Gulf Oil and Gas accountACCOUNT

Total Extends All Block 17 Production Licenses until 2045

Source: www.gulfoilandgas.com 12/16/2019, Location: Africa

Total, operator, and its partners Equinor, ExxonMobil and BP have signed an agreement with national oil, gas and biofuels agency ANPG and state-owned Sonangol of Angola, to extend their consortium’s production licenses to 2045. As part of the agreement, Sonangol will obtain a 5% interest in Block 17 on the effective date and an additional 5% interest in 2036. Additionally, the consortium will pay some production bonuses to the State of Angola along the life of the license and will spend 20M$ for social programs.

Located 150 kilometers off the Angolan coast in water depths ranging from 600 to 1,400 meters, Block 17 has been a true success story, with almost 3 billion barrels of oil produced since 2001 by four floating production, storage and offloading (FPSO) units: Girassol (2001), Dalia (2006), Pazflor (2011) and CLOV (2014).

Currently producing around 440,000 barrels of oil equivalent per day, the potential of this very prolific block is still high, with more than 1 billion barrels yet to be produced.

Three short-cycle brownfield projects — Zinia Phase 2, CLOV Phase 2 and Dalia Phase 3 — are currently under development on Block 17 to add 150 million barrels of resources, and other brownfield projects for extending the production of Pazflor, Rosa, Girassol and Dalia are under study. Additional exploration campaigns might also help unlock further resources and two wells are already planned to be drilled in 2020.

“We are very pleased to continue the Block 17 success story in Angola. This golden block has allowed us to demonstrate our deep offshore excellence over the past 20 years with numerous technological developments and innovations,” stated Patrick Pouyanné, Chairman and Chief Executive Officer of Total. “This is a significant milestone in our long history in the country and illustrates our commitment to continue developing Angola’s energy sector.”

“We are confident that Total and its partners are committed to examining a number of short-term investment opportunities that have already been identified in order to maintain the production above 400,000 barrels of oil equivalent per day through 2024,” commented Paulino Jeronimo, Chief Executive Officer of ANPG. “We also look forward to exploring the vicinity in order to add further resources to the Block 17 and, more broadly, for the Country.”

“Sonangol is proud to further diversify its portfolio through this impressive asset and to join the successful Golden Block adventure.” noted Sebasti?o Gaspar Martins, Chairman and Chief Executive Officer of Sonangol.

After the entry of Sonangol, the Block 17 contractor group comprises Total, operator with a 38% working interest, alongside Equinor (22.16%), ExxonMobil (19%), BP (15.84%), and Sonangol (5%).

For more information about related Opportunities and Key Players visit West Africa Projects

Production News in Angola >>

United Kingdom >>  3/27/2020 - First gas from the new C6 well at Spirit Energy’s Chiswick field in the Southern North Sea was achieved on 11 March 2020 and has added up to an additi...
China >>  3/25/2020 - CNOOC Limited announced its 2019 annual results for the year ended December 31, 2019. In 2019, CNOOC Limited has achieved remarkable results, with mul...

United Kingdom >>  3/24/2020 - Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an operat...
Tunisia >>  3/20/2020 - Serinus Energy Plc provides an update on its operations in Romania and Tunisia. ...

Gabon >>  3/18/2020 - BW Energy Limited announces adjustments to the development program on the operated Dussafu Marin license in Gabon in response to the spread of the cor...
Russia >>  3/16/2020 - PAO NOVATEK (NOVATEK) announced that the Company has reached a milestone of one trillion cubic meters in cumulative natural gas production since comme...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Angola Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.