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TotalEnergies has announced the commencement of production for CLOV Phase 2 in Angola, aiming for an output of 40,000 barrels of oil equivalent per day by mid-2022. This project, associated with the existing CLOV FPSO, is estimated to yield approximately 55 million barrels of oil equivalent. Launched in 2018, CLOV Phase 2 was completed within budget and on schedule, despite challenges posed by the Covid-19 pandemic. The project is a key aspect of TotalEnergies' strategy to enhance sustainable oil production in Block 17.
Positive
CLOV Phase 2 production start contributes 40,000 barrels of oil equivalent per day.
Project was executed within budget and timeline despite pandemic challenges.
Aligns with TotalEnergies' strategy for sustainable, low-cost upstream investments.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency (ANPG) announce the start of production of CLOV Phase 2, a project connected to the existing CLOV FPSO (Floating Production, Storage and Offloading unit). This tie-back project will reach a production of 40,000 barrels of oil equivalent per day in mid-2022.
Located about 140 kilometers from the Angolan coast, in water depths from 1,100 to 1,400 meters, the CLOV Phase 2 resources are estimated at around 55 million barrels of oil equivalent.
Launched in 2018, this project was carried out within budget and planned execution duration, despite the challenges associated with the Covid-19 pandemic.
“The start of the production of CLOV Phase 2, a few months after Zinia Phase 2, demonstrates our continuous efforts to ensure a sustainable output on Block 17. This project fits within the company’s strategy to focus its upstream investments on low-cost projects which contribute to lower the average GHG emissions intensity of its production,” saidHenri-Max Ndong-Nzue, Senior Vice-President Africa, Exploration and Production at TotalEnergies. “CLOV Phase 2 start-up also highlights the performance of our teams despite the health crisis.”
Belarmino Chitangueleca, acting President of the ANPG, commented that “CLOV Phase 2 start-up comes at the right time to sustain the national oil production. We value the performance of the operator and the contractor group to keep executing projects despite this crisis period.”
Block 17 is operated by TotalEnergies with a 38% stake, alongside Equinor (22.16%), ExxonMobil (19%), BP Exploration Angola Ltd (15.84%) and Sonangol P&P (5%). The Contractor Group operates four FPSOs in the main production areas of the block, namely Girassol, Dalia, Pazflor and CLOV.
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TotalEnergies in Angola
TotalEnergies has been present in Angola since 1953, where it today employs around 1,500 people in the business segments of Exploration & Production, Marketing & Services, Trading & Shipping and iGRP.
TotalEnergies’s equity production in Angola averaged 212,000 barrels of oil equivalent per day in 2020 from operated blocks 17 and 32, and from non-operated assets 0, 14, 14K, and Angola LNG. TotalEnergies is the country's leading oil operator with close to 45% of Angola’s operated oil production.
TotalEnergies also operates Block 17/06 in the Lower Congo Basin, Block 16, location of the Chissonga discovery — both in development phase — and Block 48 in the emerging ultra-deep offshore play and still in exploration phase.
In the gas sector, TotalEnergies holds a 13.6% stake in the 5.2-million-ton-per-year Angola LNG liquefaction plant, which is supplied with associated gas from the country’s producing offshore oil fields. TotalEnergies also recently entered the New Gas Consortium, a key player in developing Angola’s natural gas resource.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
