Patrick Pouyanné, CEO of TotalEnergies, has announced that the French energy major is planning to develop a new hub on the Cameia-Golfhino deepwater development offshore Angola – one of the country's most promising deepwater prospects.
Speaking during the company's strategy and outlook presentation, the CEO stated that the hub will comprise a 70,000 barrel per day project, and while smaller than some of TotalEnergies' other Angolan developments, it remains an attractive investment option, "delivering $500 million of cash flow per year," Pouyanné stated.
With Cameia-Golfhino expected to deliver first oil in 2026, the new hub, according to Pouyanné, is being developed with the aim of "leveraging synergies with operations in Angola." He further stated that the company is targeting a final investment decision early 2024.
Located in Block 20/11 and Block 21/09, the Cemeia-Golfhino development represents one of seven deepwater discoveries made in both blocks, and is estimated to hold up to 420 million barrels of oil equivalent. Having assumed operatorship in 2019, TotalEnergies has issued a tender for a 100,000 bpd Floating Production, Storage and Offloading facility to service the Golfhino field, with the new hub expected to strengthen production at the prospect even further.
As Angola's oil and gas landscape continues to witness unprecedented growth, and exploration and production remains resilient despite the reduced capital expenditure, energy transition climate, regional energy leaders, global financiers and both public and private sector executives will convene at the third edition of Angola Oil & Gas (AOG) – taking place from November 29-30 and December 2 this year in Luanda. Under the theme, 'Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola,' developments such as TotalEnergies' new hub will be further unpacked.
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