French energy major TotalEnergies announced on Thursday, 10 September, a new oil discovery in Angola and signed agreements to acquire a 40% operating stake in two new exploration blocks in the country.
According to Reuters, the new find — named Acacia-5 — will add 6,000 barrels per day to production at the company's Block 17. TotalEnergies expects an accelerated development programme to bring the field into production within three months of the discovery, which was made in June 2026.
The company also signed agreements with Angola's National Oil, Gas and Biofuels Agency (ANPG), the country's upstream regulator, to enter exploration blocks 17/25 and 32/21, both located in the Lower Congo Basin, with a 40% interest as operator, it said in a statement.
TotalEnergies chief executive Patrick Pouyanné said on Wednesday that the company and its partners plan to invest $10 billion in Angola over the next five years.
"TotalEnergies, the leading oil operator in Angola, currently produces around 450,000 barrels of oil per day in the country and intends to maintain this level of production," Pouyanné said. Angola, for its part, is seeking to stabilise national output at around one million barrels per day.
"Investment is required to reach these production levels," the TotalEnergies chief executive told participants at an oil sector conference.
TotalEnergies also intends to launch an artificial intelligence-based geoscience initiative, in partnership with major companies, to support exploration of Angola's offshore oil blocks.
"We will apply it first in the Angolan basin because we are convinced there are more discoveries to be made, as with Block 17 and Block 0," Pouyanné added.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=539290