Luanda -The National Oil, Gas and Biofuels Agency (ANPG), the Total Energies and partners of Block 17/06 announced Friday in Luanda the final investment decision for the Begonia Development Area, located in the Lower Congo maritime basin, about 150 kilometers from the Angolan coast, ANGOP has learnt.
Begonia reservoir will be developed through five subsea wells (three for production and two for water injection) connected to the FPSO Pazflor floating production, storage and offloading unit, in production since 2011 in Block 17.
The first oil exploitation expected in the first half of 2025, will increase FPSO Pazflor's production by roughly 30,000 barrels of oil per day.
Begonia is the second project operated by Total Energies in Angola to benefit from innovative engineering and a new contractual framework for the standardisation of the Subsea Production System, capable of reducing costs by up to 20% and accelerating the acquisition process.
Paulino Jerónimo, CEO of the National Agency of Oil, Gas and Biofuels, said Begonia's final investment decision was crucial to sustain Angola's production, optimizing existing assets and resources.
"The National Concessionaire will continue to do everything so that operators and their partners have the best opportunities to expand and increase their activity in our country and to contribute to the increased productivity and efficiency of our oil sector," Jeronimo said.
In turn, the Total Energies' general manager in Angola, Olivier Jouny, said this first subsea development of inter-block connection will maximize the use of Pazflor's infrastructure, reduce costs and carbon intensity, in line with Total Energies' strategy.
"In this block, Total Energies shows its leadership in deepwater, at low cost (less than USD 20 per barrel), thanks to the standardisation of the subsea equipment," Jouny said.
The company’s official added that this final investment decision comes before the expected signing of the concession for the Quilemba solar power plant, in Lubango, showing Total Energies' bet on multi-energy development in Angola.
The development project is worth 850 million, in which 70 percent of the work is to be carried out in Angola, mainly at the Luanda industrial base and offshore.
Total Energies operates Block 17/06 with a 30% stake, together with Sonangol P&P (20%), SSI (27.5%), Somoil (10%), ACREP(5%) Falcon Oil (5%) and PTTEP (2.5%).
