The National Oil, Gas and Biofuels Agency (ANPG), TotalEnergies and their Block 17 partners (Equinor, Exxon Mobil, BP and Sonangol P&P) announce the final investment decision of 850 million of US Dollars for the launch of the CLOV Phase 3 +development, in the deep offshore of Block 17, located 150 kilometers off the Angolan coast.
This is an extension of the subsea production network and its interconnection to the floating production and storage unit (FPSO) CLOV to develop additional production from existing fields, which can reach a peak of 30,000 barrels per day, in order to sustain production of the CLOV field, started in 2014.
This development is the first to benefit from the standardization of subsea equipment in Block 17, through innovative engineering and contractual structures, which represent a significant cost reduction and which benefit the portfolio of short-cycle development projects in the different fields of said Block. .
For the Chairman of the Board of Directors of ANPG, Paulino Jerónimo, the final investment decision for CLOV Phase 3 “will clearly contribute to Angola maintaining its national production levels, as well as to the optimization of existing facilities and resources. It is, therefore, another achievement, the result of the intense and continued work between the National Concessionaire and the partners in the sector”.
“…The investment by TotalEnergies and its partners in the development of national oil resources is not only important, but welcome, since the oil sector continues to be of extreme importance for the economy of Angola and for all its citizens .”
“ This development will maximize the use of the existing CLOV infrastructure, allowing us to produce oil at lower costs and with less carbon emissions into the atmosphere, in line with TotalEnergies' strategy . "
The official adds that this project “opens a new cycle in Block 17, in which the standardization of subsea equipment for future developments will bring a cost reduction of around 20%, which may generate opportunities to maintain production in other FPSOs. TotalEnergies demonstrates, in this emblematic block, its leadership in deep offshore and is evaluating the replication of this innovative strategy in its portfolio of development opportunities in both existing and new facilities.”
It is recalled that the CLOV Phase 3 development project comprises the extension of the subsea infrastructure and five new wells in water depths between 1,100 and 1,400 meters, with a start of production planned for 2024. It involves 2 million hours of work , of which 1.5 million to be carried out in Angola, mainly in Lobito (Sonamet shipyard), and in Luanda (Sonils logistics base).
TotalEnergies operates Block 17 with a 38% stake, and Equinor (22.16%), Exxon Mobil (19%), BP Exploration Angola Ltd. (15.84%) and Sonangol P&P (5%). Block 17 has four FPSOs in operation – Girassol, Dália, Pazflor and CLOV.
