Gary Bembridge
Production is set to start utilizing spare capacity on the Pazflor floating production, storage, and offloading (FPSO) unit only three months following the discovery of the deposit, called Acacia-5.The find is anticipated to increase output in the block by 6,000 barrels daily.
TotalEnergies has a 38% interest in Block 17. Additional partners consist of Norway’s Equinor (22.16%), the US’s ExxonMobil (19%), and Angola’s Azule Energy (15.84%) along with Sonangol E&P (5%).
The French firm also entered into concession agreements for a 40% operational stake in exploration blocks 17/25 and 32/21 within the Lower Congo Basin. The proposal includes connecting these blocks to adjacent infrastructure that supports blocks 17 and 32, where the company currently operates six FPSOs.
ExxonMobil possesses a 40% interest in blocks 17/25 and 32/21, with Sonangol E&P retaining the remaining 20%.
TotalEnergies' CEO Patrick Pouyanné announced on Wednesday that the firm and its associates plan to invest $10 billion in Angola within the next five years. The firm has been active in Angola since 1953 and currently has around 1,500 employees in the country. In 2025, the country's output reached 156,000 barrels of oil equivalent each day.
source: reuters.com
TotalEnergies has a 38% interest in Block 17. Additional partners consist of Norway’s Equinor (22.16%), the US’s ExxonMobil (19%), and Angola’s Azule Energy (15.84%) along with Sonangol E&P (5%).
The French firm also entered into concession agreements for a 40% operational stake in exploration blocks 17/25 and 32/21 within the Lower Congo Basin. The proposal includes connecting these blocks to adjacent infrastructure that supports blocks 17 and 32, where the company currently operates six FPSOs.
ExxonMobil possesses a 40% interest in blocks 17/25 and 32/21, with Sonangol E&P retaining the remaining 20%.
TotalEnergies' CEO Patrick Pouyanné announced on Wednesday that the firm and its associates plan to invest $10 billion in Angola within the next five years. The firm has been active in Angola since 1953 and currently has around 1,500 employees in the country. In 2025, the country's output reached 156,000 barrels of oil equivalent each day.
source: reuters.com