French energy giant TotalEnergies announced a major investment in Angola’s oil sector with the launch of the Kaminho deepwater project. The project, valued at $6 billion, represents the first large-scale development in the Kwanza basin and is expected to significantly boost Angola’s oil production.
Kaminho will target the Cameia and Golfinho fields located 100 kilometers offshore Angola in 1,700 meters of water depth. TotalEnergies, alongside its partners Petronas (40%) and Sonangol (20%), will utilize an innovative all-electric Floating Production Storage and Offloading (FPSO) unit – a converted Very Large Crude Carrier (VLCC) – to minimize greenhouse gas emissions. Production is expected to begin in 2028, reaching a peak of 70,000 barrels of oil per day.
The project is expected to generate significant economic benefits for Angola. Over 10 million man-hours will be dedicated to the project, with a focus on utilizing local Angolan companies for offshore operations and construction. Additionally, TotalEnergies and Sonangol signed a Memorandum of Understanding to collaborate on research and development, particularly in reducing methane emissions and exploring renewable energy sources.
The launch of Kaminho was met with enthusiasm from Angolan officials. Diamantino de Azevedo, Minister of Mineral Resources, Oil & Gas, highlighted the importance of the partnership between the involved companies, emphasizing the creation of joint ventures and local content development.
