Africa-Press – Angola. The minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, on Tuesday in Luanda stated that the Begonia oil exploration project will help mitigate the decline in crude oil production in Angola.
Speaking to the press after the ceremony celebrating Phase 3 of this project, which began operations in July this year, the minister stated that it will offer incentives to partners operating in blocks 17 and 17/06.
“This is a clear example for all those who want to invest in Angola. The country continues to be a destination for oil exploration. We are open to all who want to invest in Angola,” he emphasized.
The Begonia Project is operated by TotalEnergies with a 30% equity interest, in association with the national companies Sonangol EP, which holds a 30% interest, SSI with a 27.5% interest, ETU Energias with a 7.5% interest, and Falcon Oil with a 5% interest.
The project that is located 150 kilometers off the Angolan coast, represents the first subsea development between blocks in Angola, specifically blocks 17 and 17/06, in a water depth of between 800 and 1,200 meters. The subsea connection of five oil wells is connected to the existing subsea facilities of the Paz flor FPSO.
It will add 30,000 barrels per day to the Pazflor FPSO’s oil production, with a total investment cost of US$850 million.
Martin Deffontaines, CEO of TotalEnergies Angola, highlighted the project’s innovation, as it is the first in Angola to be developed between blocks.
He said that it demonstrates the company’s ability to come together and find innovative solutions for the benefit of all parties.
The businessman revealed that it will produce oil from one block using the existing facilities of another. This was only possible due to the cooperation of the national cooperation agency, the National Agency of Petroleum, Gas, and Biofuels, and the fact that TotalEnergies is the operator of both blocks: 17 and 17/06.
According to him, this project offers low-cost reserves with low emissions.
Production
The country has seen significant declines in oil production. In the last seven months, daily crude oil production was 1.023 billion barrels per day, according to Angolan newspaper Jornal Expansão, which cites the National Agency of Petroleum and Gas as a source.
The 2025 General State Budget Foundation report projected daily production of 1.098 billion barrels, but constraints linked to reduced investment in exploration are causing the country to produce 74,700 fewer barrels per day.
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