REG-TotalEnergies SE TotalEnergies: Angola: Start-up of CLOV Phase 2 Project

TotalEnergies SEAnnouncement

03/12/2021 07:40

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TotalEnergies: Angola: Start-up of CLOV Phase 2 Project

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), operator of Block 17 in
Angola, together with the Angolan National Oil, Gas and Biofuels Agency (ANPG)
announce the start of production of CLOV Phase 2, a project connected to the
existing CLOV FPSO (Floating Production, Storage and Offloading unit). This
tie-back project will reach a production of 40,000 barrels of oil equivalent
per day in mid-2022.

Located about 140 kilometers from the Angolan coast, in water depths from
1,100 to 1,400 meters, the CLOV Phase 2 resources are estimated at around 55
million barrels of oil equivalent.

Launched in 2018, this project was carried out within budget and planned
execution duration, despite the challenges associated with the Covid-19
pandemic.

“The start of the production of CLOV Phase 2, a few months after Zinia Phase
2, demonstrates our continuous efforts to ensure a sustainable output on Block
17. This project fits within the company’s strategy to focus its upstream
investments on low-cost projects which contribute to lower the average GHG
emissions intensity of its production,” said Henri-Max Ndong-Nzue, Senior
Vice-President Africa, Exploration and Production at TotalEnergies. “CLOV
Phase 2 start-up also highlights the performance of our teams despite the
health crisis.”

Belarmino Chitangueleca, acting President of the ANPG, commented that “CLOV
Phase 2 start-up comes at the right time to sustain the national oil
production. We value the performance of the operator and the contractor group
to keep executing projects despite this crisis period.”

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

***

TotalEnergies in Angola

TotalEnergies has been present in Angola since 1953, where it today employs
around 1,500 people in the business segments of Exploration & Production,
Marketing & Services, Trading & Shipping and iGRP.

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

TotalEnergies also operates Block 17/06 in the Lower Congo Basin, Block 16,
location of the Chissonga discovery — both in development phase — and
Block 48 in the emerging ultra-deep offshore play and still in exploration
phase.

In the gas sector, TotalEnergies 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 producing offshore oil fields.
TotalEnergies also recently entered the New Gas Consortium, a key player in
developing Angola’s natural gas resource.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, cleaner, more reliable and accessible to as many people as
possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note

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entities that are directly or indirectly controlled by TotalEnergies SE.
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TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
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