REG-TOTAL Angola: Total Starts Production From Zinia Phase 2, Successful Short-cycle Development on Block 17

TotalEnergies SEAnnouncement

06/05/2021 07:45

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Angola: Total Starts Production From Zinia Phase 2, Successful Short-cycle
Development on Block 17

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT), operator of Block 17 in Angola,
together with the Angolan National Oil, Gas and Biofuels Agency, announce the
start of production from Zinia Phase 2 short-cycle project, connected to
existing Pazflor’s FPSO (Floating Production, Storage and Offloading unit).
The project includes the drilling of nine wells and is expected to reach a
production of 40,000 barrels of oil per day by mid-2022.

Located in water depths from 600 to 1,200 meters and about 150 kilometers from
the Angolan coast, Zinia Phase 2 resources are estimated at 65 million barrels
of oil.

The development of this project was carried out according to schedule and for
a CAPEX more than 10% below budget, representing a saving of 150 million
dollars. It involved more than 3 million manhours of work, of which 2 million
were performed in Angola, without any incident.

“The successful start-up of this project, despite the challenges that have
arisen as a result of the pandemic, demonstrates Total’s commitment to
ensure a sustainable output on Block 17, for which the production license was
recently extended until 2045. Zinia Phase 2 project reflects the quality of
short cycle projects in Angola with high return on investment”, said Nicolas
Terraz, President Africa, Exploration and Production at Total.

Paulino Jerónimo, CEO of the National Oil, Gas and Biofuels Agency, commented
as follows, “Zinia Phase 2 is a key project for Angola that comes at the
right time to sustain the production of the country. We welcome our
collaboration with Total in Angola, that keeps investing with its partners in
the development of the country oil resources”.

Block 17 is operated by Total with a 38% stake, alongside with 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.

Total in Angola

Total has been present in Angola since 1953, where it counts today around
1,500 employees in the business segments of Exploration & Production,
Marketing & Services, and Trading & Shipping.

Total’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. Total is the country's leading
oil operator with close to 45% of Angola’s operated oil production.

Total also operates several blocks in pre-development phase: Block 17/06 in
the Lower Congo Basin, Block 16 where the Chissonga discovery was made and the
recently acquired Blocks 20/11 and 21/09 in the Kwanza Basin. It is also
operator of Block 48 in the emerging ultra-deep offshore play, where an
exploration phase is under way.

In the gas sector, Total 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 offshore oil fields. Total is also partner in the New Gas
Consortium, a key player in developing Angola’s natural gas resources.

Through Total Eren, Total has executed end of 2020 a Memorandum of
Understanding with the Angolan Ministry of Energy and Water in order to build
and operate a 35 MWp solar project in Angola with its partner Greentech -
Angola Environment Technology, Ltd, an experienced energy developer based in
Luanda, and the state-owned company Sonangol.

***

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and electricity. Our 100,000 employees are committed to better energy that is
more affordable, more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to become the
responsible energy major.

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TOTAL SE directly or
indirectly owns investments are separate legal entities. TOTAL SE has no
liability for their acts or omissions. In this document, the terms
“Total”, “Total Group” and Group are sometimes used for convenience.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. 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 TOTAL 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.

Total 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)



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