French oil company TotalEnergies recently made available US$3 billion to be used in projects related to renewable energy in several locations around the country, as well as oil and gas exploration in the Kwanza River Basin, specifically in Block 17.
The information was provided to the press this week, in Luanda, by the director general of the French multinational, Patrick Pouyanné, at the end of the audience granted to him by the President of the Republic, Joao Lourenço, at the Presidential Palace, in Cidade Alta.
“We have made available, this year, 3 billion dollars that will be invested in specific oil projects in the Kwanza River Basin, such as the Begónia exploration project and others for the expansion of Block 17,” stated Patrick Pouyanné, who underlined the desire to see such projects operational until 2024.
Patrick Pouyanné informed us that, as of 2024, Total Energies plans to create new projects, such as “guas Profundas,” “Cameia,” and “Golfinho,” which are already being projected in the Kwanza River Basin.
“We are working with the Angolan authorities and if we reach a good understanding we want to see these projects in operation by the middle of next year,” admitted the manager of the French multinational, who also advanced the company’s intention to explore, in the near future, a total of seven blocks, in the same basin.
The director general of Total Energies considered the business environment in Angola to be “excellent.”
He noted, in this regard, that his company has been operating in Angola for over 70 years and enjoys “great support” from the Angolan government, including from partners (Sonangol and the National Oil and Gas Agency), to increasingly invest in Angola.
Total Energies currently produces 550,000 barrels of oil per day, which represents almost 50 percent of the total production in the country.