- TotalEnergies invests $850million into CLOV Phase 3 Development.
- According to ANPG, this project opens a new cycle in Block 17
The National Oil, Gas, and Biofuels Agency (ANPG) of Angola, TotalEnergies, and their partners are set to invest $850 million in the CLOV Phase 3 development. The project is located 150 kilometres off the coast of Angola in the deep offshore of Block 17. It is a subsea production network that connects to the CLOV FPSO to generate new products from current fields, with a maximum capacity of 30,000 barrels per day.
The final investment decision for CLOV Phase 3 will help Angola maintain its national production levels and optimize existing facilities and resources, according to ANPG Chairman of the Board of Directors Paulino Jerónimo.
“It is another achievement resulting from the intense and continued work between the National Concessionaire and the partners in the sector. TotalEnergies and its partners’ investment in developing national oil resources is important and welcome since the oil sector continues to be extremely important to the economy of Angola and its citizens,” Jerónimo added.
“This development will maximize the use of the existing CLOV infrastructure, allowing us to produce oil at lower costs and with fewer carbon emissions into the atmosphere, in line with TotalEnergies’ strategy,” Oliver Jouny, General Director of TotalEnergies Angola.
According to ANPG, 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%, which may generate opportunities to maintain production in other FPSOs.
The CLOV Phase 3 development project entails the extension of subsea infrastructure and the drilling of five new wells in water depths ranging from 3,600 to 4,600 feet, with production set to begin in 2024. It will take 2 million hours of work, 1.5 million of which will be completed in Angola, primarily in Lobito and Luanda.
Block 17 is operated by TotalEnergies with a 38% interest, while Equinor, Exxon, BP, and Sonangol are the field’s partners with 22.16, 19, 15.84, and 5% holdings, respectively. In addition, Block 17 is home to four FPSOs: Girassol, Dália, Pazflor, and CLOV.