Total energy will invest $850 million in the Angolan project

French energy giant Total energy and its partners have made a final investment decision on an $850 million project offshore Angola as part of their plan to further develop the CLOV complex located in Block 17, Angola.  

Angola's National Agency for Oil, Gas and Biofuels (ANPG) and Total Energy announced the decision to develop the third phase of CLOV on Friday, saying the investment is aimed at increasing production and reducing operating costs.  Total's partners in the project include Equinor, ExxonMobil, BP and Angola's National Oil Company.  

The project is an extension of the subsea oil and gas production network and interconnects with floating production, storage and offloading (FPSO) CLOVS to develop additional production from existing fields, up to up to 30,000 b/d, to sustain production from cloVS that came online in 2014.  

ANPG's chairman said the final investment decision on the CLOV phase iii project "will clearly help Angola to maintain its national production level and optimize existing facilities and resources".  

The CLOV phase iii development includes the expansion of subsea infrastructure and five new Wells in water depths ranging from 1,100 m to 1,400 m.  First oil production is expected to begin in 2024.