Luanda - The National Oil, Gas and Biofuels Agency (ANPG), the TotalEnergies company and its partners announced this Friday an investment of USD 850 to launch the development of the CLOV Phase 3 of Block 17, which is 150 kilometres off the Angolan coast.
The development project of the CLOV Stage 3 incorporates the extension of the subsea infrastructure and five new wells in water depths between 1,100 and 1,400 metres with the starting of the production planned for 2024.
According to an ANPG note made public this Friday, the initiative covers 2 millions of working hours, of which 1,5 million to execute in Angola, especially in Lobito City at Sonamet shipyard and in Luanda at the Sonils logistical base.
It is about the extension of the subsea production network and its interconnection to the floating production and storage unit (FPSO) CLOV to develop an additional production of existing fields that might reach a peak of 30,000 barrels daily.
This provision for the additional increase aims to support the CLOV field production that started in 2014.
Despite the production, the investment aims also to reduce the operating costs.
According to the document, to which ANGOP has had access, the development of the CLOV Stage 3 is the first one to benefit from standardization of subsea equipment in Block 17, through innovative engineering and contractual frameworks.
This represents a significant cost reduction that benefits the portfolio of short-cycle development projects in the different fields of the aforementioned Block.
The document mentions the chairman of the ANPG Board of Directors, Paulino Jerónimo, who said that the final investment decision for CLOV Phase 3 will clearly contribute to Angola maintaining its national production levels, as well as to the optimization of facilities and of existing resources.
“It is, therefore, another achievement, the result of intense and continued work between the National Concessionaire and partners in the sector”, said the official.
Paulino Jerónimo considered the investment by TotalEnergies and its partners to be important for the development of national oil resources, considering the role of the oil sector in the country's economy.
According to the source, this development will maximize the use of the existing CLOV infrastructure, allowing the production of oil at lower costs and with less carbon emissions into the atmosphere, in line with the strategy of TotalEnergies.
The official added that this project opens a new cycle in Block 17, in which the standardization of subsea equipment for future developments will bring a cost reduction of around 20%, and may generate opportunities to maintain production in other FPSOs.
“TotalEnergies demonstrates, in this emblematic block, its leadership in deep offshore and is evaluating the replication of this innovative strategy in its portfolio of development opportunities, both in existing and new facilities”, advanced the official.
The partners in Block 17 are TotalEnergies with a 38% stake, Equinor (22.16%), Exxon Mobil (19%), BP Exploration Angola Ltd. (15.84%) and Sonangol P&P (5%).
Block 17 has four FPSOs in operation, namely Girassol, Dália, Pazflor and CLOV.
