TotalEnergies and its partners on Angola’s Block 17 have taken the final investment decision (FID) on the $850 million CLOV Phase 3 development.
The Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) announced Total’s decision, saying the phase should begin producing in 2024. Target production is 30,000 barrels per day.
CLOV Phase 3 will see five new wells drilled, in water depths between 1,100 and 1,400 metres.
Total is the operator with a 38% stake. Also involved are Equinor with 22.16%, ExxonMobil with 19%, BP 15.84% and Sonangol P&P 5%.
It will involve 2mn hours of work, of which 1.5mn will be carried out in Angola. The regulator said this would be in the Sonamet shipyard, in Lobito, and the Sonils logistics base, in Luanda.
ANPG chairman Paulino Jerónimo said the FID would help Angola maintain production “as well as optimising existing facilities and resources. It is, therefore, another achievement, the result of the intense and continued work between [ANPG] and its partners in the sector.”
ANPG said the operator would use standardised subsea equipment, which will cut costs by 20% and time to production.
“This development will maximise the use of the existing CLOV infrastructure,” said Total’s Olivier Jouny. This will allow the company to “produce oil at lower costs and with less carbon emissions into the atmosphere, in line with TotalEnergies’ strategy”.
Jerónimo said standardised subsea equipment “may generate opportunities to maintain production in other FPSOs”.
The CLOV development covers the Cravo, Lirio, Orquidea and Violeta fields.
The partners on Block 17 struck a deal with ANPG in late 2019 to extend production licences on Block 17 to 2045. Under the agreement, Sonangol obtained a 5% stake and will receive another 5% in 2036.
Total launched three satellite developments on Block 17 in 2018: Zinia Phase 2, CLOV Phase 2 and Dalia Phase 3. The Zinia and CLOV phases began producing in 2021.
The company is also planning to drill two exploration wells on the block in 2022-23.