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Total and its JV partners have made the final investment decision to develop the ultra-deep offshore Kaombo project in Angola. With a production capacity of 230,000 bpd, Kaombo will develop estimated reserves of 650 MMbbl. Following an intensive optimization exercise, the project’s capital expenditure to reach full capacity was reduced by $4 bn to $16 bn, with an expected start-up in 2017.
“With the launch of Kaombo, the upcoming start-up of CLOV and three exploration wells planned in the Kwanza basin this year, Angola remains a priority country for Total,” outlined Yves-Louis Darricarrere, President Total Upstream. “While continuing our commitment to develop the Angolan oil industry, Total has significantly optimized the project’s design and contracting strategy in recent months. Kaombo illustrates both the Group’s capital discipline and objective to reduce capex.”
Located approximately 260 km offshore Luanda in water depths ranging from 1,400 to 1,900 m, the Kaombo project will develop six of the 12 discoveries already made on Block 32. The six fields (Gengibre, Gindungo, Caril, Canela, Mostarda and Louro) cover an area of 800 sq km in the central and southeast part of the block.
The Kaombo development scheme includes 59 subsea wells connected through around 300 km of subsea lines to two FPSOs, each with a production capacity of 115,000 bpd. The two FPSOs will be based on conversions of very large crude carriers (VLCCs) into production units. Associated gas will be exported to the onshore Angola LNG plant.
The Kaombo development includes a substantial level of local content. Over 14 mn man-hours of fabrication and construction works will be performed locally in Angolan yards which will be used for equipment fabrication and assembly.
Total is the operator of Block 32, with a 30% stake, alongside Sonangol P&P (30%), Sonangol Sinopec International (20%), Esso Exploration and Production Angola (Overseas) (15%) and Galp Energia (5%).
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