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Angola: First Oil From Offshore Kwanza Basin Expected in 2028 – Minister

Angola: First Oil From Offshore Kwanza Basin Expected in 2028 – Minister

The first oil is expected to be produced offshore in the Kwanza Basin in 2028, the Angolan minister for mineral resources, oil and gas said on Monday, highlighting the estimated reserves of 400 million barrels.

Diamantino Azevedo was speaking at the signing ceremony for the final investment decision for the Kaminho project in Block 20, which includes the development of the Cameia and Golfinho fields, which are due to come into production in 2028 and 2030 respectively.

Block 20 is located in deep waters in the Kwanza Basin, 170 kilometres south of Luanda and around 100 kilometres from the Angolan coast.

The minister said that the project’s oil reserves are estimated at around 400 million barrels of oil, with an estimated production of 70,000 barrels of oil per day when it is fully operational.

“With this project, a new oil province is opening up offshore in the Kwanza Basin, whose significant volume of reserves could contribute to the sustainability of national oil production in the medium term and generate additional revenue for the Angolan state,” he said.

The production facilities will be designed to minimise greenhouse gas emissions, allowing the total reinjection of associated gas into the reservoirs and eliminating routine gas flaring.

Diamantino Azevedo stressed the contribution to decarbonising oil operations, an approach he wants to see adopted as standard in future development projects.

The Angolan oil and gas concessionaire today signed the final investment decision with France’s Total for two fields in Block 20/11 of the Kwanza Basin, worth US$6 billion (€5.52 million).

The development of the two fields – Cameia and Golfinho – is part of the Kaminho project, involving the conversion of a Very Large Crude Carrier (VLCC) class tanker into a Floating Production, Storage and Offloading Unit (FPSO), connected to a subsea production network.

Lusa

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